2014 [P&L journal]
- Thread starter masterm1ne
- Start date
Your entries look early to me. The first trade you got out right where there were a bunch of buy stops... Why did you get out? I usually get out where I expect resistance using other lines.
I don't remember. This happened a long time ago. But knowing how I was riddled with irrational fear back then, I could have been spooked by just about anything.
Nothing Mon +600 -540 +1910 -1600
Having more realizations about my trading strategy:
On average, there are about 3-4 trades per day according to my Pareto principle lines. I must must must hold my position to the close if I'm right, or cash out where my reward was at least 2x+ my risk. Tue I cashed out at $600 when I could have held those contracts to the close. The 1 loss the next day wiped out my gains. Also, so many of my setups lead to one way moves that last for 2-3 days.
Today I had 2 losses that were both more then they should have been. I was running around and it was hard to get out exactly when I needed to as well when the market moves fast. Fuck the money, get the experience.
Having more realizations about my trading strategy:
On average, there are about 3-4 trades per day according to my Pareto principle lines. I must must must hold my position to the close if I'm right, or cash out where my reward was at least 2x+ my risk. Tue I cashed out at $600 when I could have held those contracts to the close. The 1 loss the next day wiped out my gains. Also, so many of my setups lead to one way moves that last for 2-3 days.
Today I had 2 losses that were both more then they should have been. I was running around and it was hard to get out exactly when I needed to as well when the market moves fast. Fuck the money, get the experience.
Attachments
I write on paper and online journal about trading because it reinforces what I know and see trading. Though at this point I don't need it. I know what works. Just have to polish my skill with time.
This morning I hesitated taking a great long at the open. It was absolutely perfect. Many reasons over many time frames. I have named my patterns to help a friend learn them and because it cracks me up. I am not the creator, and I imagine the 1% that make huge money in this are doing something similar; I'll give you a hint: Terri's Third Trendline Bounce, (reverse) Andrew's Fast Food Fork, and Reverse Rocketship Trendline. There was no reason for me not to risk ~$1000 (5 contracts). Why? I would have made my 10 points or more. That's $5K. I'm doing 5 lots now. No reason not to. I don't lose anymore.
Here is my public humiliation. I take more screenshots now of trades that I see so I can kick myself every time I skip one that I had a gut feeling and my guidelines identified was great.
Still made $4.8k today... and done. 2 possible trades today, it's noon. I'm done.
This morning I hesitated taking a great long at the open. It was absolutely perfect. Many reasons over many time frames. I have named my patterns to help a friend learn them and because it cracks me up. I am not the creator, and I imagine the 1% that make huge money in this are doing something similar; I'll give you a hint: Terri's Third Trendline Bounce, (reverse) Andrew's Fast Food Fork, and Reverse Rocketship Trendline. There was no reason for me not to risk ~$1000 (5 contracts). Why? I would have made my 10 points or more. That's $5K. I'm doing 5 lots now. No reason not to. I don't lose anymore.
Here is my public humiliation. I take more screenshots now of trades that I see so I can kick myself every time I skip one that I had a gut feeling and my guidelines identified was great.
Still made $4.8k today... and done. 2 possible trades today, it's noon. I'm done.
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I am really good now at sitting for hours and doing nothing now that I realized logically how imperative it is. The purpose is two fold: the best day trades come around only 1-2 times per day and when I'm right, I'm usually right for a long time.
+4,860 -2,290 -240 Nothing Thur -1250
Tue was quite frustrating considering I was long at the open. I got stopped/shaken out but didn't take the second/third reversals. All signs said buy.
Today, trading 101. DON'T GET OUT UNTIL THE FUCKING BAR CLOSES. I just quit when I fuck up so hard.
+4,860 -2,290 -240 Nothing Thur -1250
Tue was quite frustrating considering I was long at the open. I got stopped/shaken out but didn't take the second/third reversals. All signs said buy.
Today, trading 101. DON'T GET OUT UNTIL THE FUCKING BAR CLOSES. I just quit when I fuck up so hard.
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-2630 +230 +130 +20 Nothing Fri
-200, -20, 0, Nothing Thur, -20 (22nd-26th)