Burton's Journal

1st and 2nd trade. Big Gap up broke lows retest. Price did not hold the breakout area very well.

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I'm trying to figure out a way to have this trade make since the first trade I went short 3 and took one off the table early then I rode the other two to a 12 pt winner all the way back. Not sure why I did that but I've did almost the exact same thing yesterday morning. Not really my trading style to get greedy and let a trade come back that much. Well I guess that is my trading style because I've done that two days in a row. Let's get this corrected before it becomes a trend. If I'm in over 4 lots I can let one ride back to even but less than that you have to take some profits.

When the trade came all the way back I went short again. This time I had way too tight of stop should of been above hi of the day. Ticked up and I got out. One upside is I'm only down very little. Unil my next trade!
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Results
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1st and 2nd trade. Big Gap up broke lows retest. Price did not hold the breakout area very well.

A0aUhtL.png

I'm trying to figure out a way to have this trade make since the first trade I went short 3 and took one off the table early then I rode the other two to a 12 pt winner all the way back. Not sure why I did that but I've did almost the exact same thing yesterday morning. Not really my trading style to get greedy and let a trade come back that much. Well I guess that is my trading style because I've done that two days in a row. Let's get this corrected before it becomes a trend. If I'm in over 4 lots I can let one ride back to even but less than that you have to take some profits.

When the trade came all the way back I went short again. This time I had way too tight of stop should of been above hi of the day. Ticked up and I got out. One upside is I'm only down very little. Unil my next trade!
IbxYUha.png

Results
ZRP6BfK.png
 
1st and 2nd trade. Big Gap up broke lows retest. Price did not hold the breakout area very well.

A0aUhtL.png

I'm trying to figure out a way to have this trade make since the first trade I went short 3 and took one off the table early then I rode the other two to a 12 pt winner all the way back. Not sure why I did that but I've did almost the exact same thing yesterday morning. Not really my trading style to get greedy and let a trade come back that much. Well I guess that is my trading style because I've done that two days in a row. Let's get this corrected before it becomes a trend. If I'm in over 4 lots I can let one ride back to even but less than that you have to take some profits.

When the trade came all the way back I went short again. This time I had way too tight of stop should of been above hi of the day. Ticked up and I got out. One upside is I'm only down very little. Unil my next trade!
IbxYUha.png

Results
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4th Trade Going over all these trades is a little tiresome. I'm hoping this is a deterrent to overtrading. I'm putting them all in no shortcuts. Price came back to a great level that I liked the R/R.
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I P&L traded this again. I only got in one lot and rode it down to about a 13 pt winner to flat. I've changed my trading style since I've switched to micros. Have to trade the market not your P&L. I guarantee I would not of let a $650 winner go back to zero with an emini.

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I got out and back into the trade almost immediately. Had about the same stops. The ranges have increased since last week. This one I was in a 20pt winner. Did not let that one go all the way back to even. I did let it come back about 9 pts. That's pretty loose but not as loose as coming back to even. Need to keep an eye on this habit.
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Last trade. Finally.
I usually stop at lunch saw one more set up at the close. Trend continuation trade.
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Didn't quite hit my target rode the 2nd lot back up to even.
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1st trade- Using the hi of the day as stop. It only hit one of my entry points.
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Results Didn't get greedy like yesterday. Just because you are only in one lot doesn't mean you have to ride it down for 20pts. The market doesn't care how many lots you are in. A trade is a trade. Got lucky got out at the bottom.
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2nd trade- Once a trend is established I look for one or two more downward moves. Depends how big the moves are I usually look for just two down moves but this first move only broke lows by about 6 pts so figured at least one more.
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Result- Didn't really push down much so got out pretty quick. Look for a better Entry.
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3rd trade- Got a better entry price had a little too tight of a stop or get a better entry. Not a very clear level. 3120 a much better level.
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Result- Pushed down and failed so I got out. Still think we are going to have a push down so look for one more entry.
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4th trade- I love this entry. Consolidating then a pop up out of consolidation. This move gets some shorts out and some longs in and can have a pretty quick move back down.
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Result- This one went so quick down my charts and dom froze. I've switched brokers recently when I started trading the micros. My current broker is .53 a side. That was half of my old broker. ONe downside have to use cqg Desktop as the dom. If anyone has a better option would love to hear!! I was in 3 and I freaking rode one of them back up 20pts. It was clear as day this wasn't going to push down again. That was 3 good moves in the morning--one more than usually. I got caught up in the trade and didn't remember that my belief it was going to make one more move down inhibited my thought process. Nothing else was possible once I made up my mind it was going lower one more time. I even sold one more a few ticks before my original entry I knew I wouldn't hold much pain on that second entry. Just a bad trade I wasn't in the right state of mind after riding that 20pts back to even. That was a little embarrassing of a trade but I'm putting them all in here. The good, bad and --ugly no hiding.
Trading is a state of being unsatisfied no matter what you do. If you want satisfaction go mow your yard!
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1st and 2nd trade. I usually don't trade the employment number (can't say that anymore) I had been laying in bed (5am AZ time) seeing what had happened overnight and decided to get in front of the computer. I wonder if I would of traded this with eminis 2 months ago. I might of-- that's one downside of the micros it's like so small just go do it. Not a good habit. Bought didn't go up got out-bought again didn't go up got out. Ok I'm done.
Results
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3rd Trade. Loved this setup. Price got rejected twice trying to break low's of the cash session. Went up hard broke out of the wedge to the upside. Did not buy on the break waited for it to retrace and got into 4. When I'm so sure a trade is going up that's when I don't see everything so made sure I was extra diligent in managing it. Took 3 lots off going up and decided to add 2 more on a retracement. That was more of my overconfidence than good R/R. If I'm going to add make sure it's not very much. I added 2 more lots and took them off pretty quick. Then rode the last one up to new highs and exited. Didn't seem like it was going to hit my last target.
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Results
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4th Trade
One hour till the cash close. Got a great entry when it popped up. When it didn't break lows and came back up not a good sign.
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Results
Train wrecked this trade a little bit. Came back up past my entry (not a good sign) Added more there. (not a good idea) Got out at my stop area.
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1st trade
Looks like we have a downside trend developing. Broke cash session lows looked for entry with a bounce back into S/R.
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I don't have hard stops but what I might do in my stop area if I'm in 5-7 lots is take off half. I was only in 2 lots so was just watching what it was doing. Some reason I got spooked not sure what and I exited. Something happened not really sure and got out. It took off pretty quick down and just let it go. The best thing about that trade is I wasn't mad at all. That happens you just don't feel good about it and you got out. Hell sometimes that works out fine this time it didn't. Very small loss so ok.
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2nd trade
Then I made a trade very out of character trying to buy a bottom. Don't usually trade like that so something got into me this market is going to go up. I got out quick after thinking this isn't my trade. No r/r really just a feeling and it was the same feeling that got me out of the last trade and that feeling was not right then either. After that trade I said I'm done for the day. I never do that especially if I'm down. But it's these days in the past that can turn into big down days so why push it. I was feeling a little off when the day started and my two trades supported that so I just listened to that and stopped. Small losing day is a win.
Just going to post the result I would be making up my R/R.
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No hiding out I ended up making two more trades at the end of the day. Since I already said I was done for the day I had a very, very, very tiny risk tolerance. I'm sure I would of been the same way on a target. I got into two trades barely went against me and exited. It even held the earlier hi to a tick. Got back in and set stop to breakeven and that got me out. It ended up selling off pretty hard into the closing.

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Worst day in a while. If going to disregard my daily stop limits AND just push buttons on my 'feelings' of where the market is going to go I will not trade anymore. So if I'm posting this again it will be my goodbye post. There is no reason for me to continue to trade if I'm going to do that. No amount of hard work or patience in trading 99% of the time will ever make up for the few times I disregard my daily stops. Luckily it wasn't an account ending kind of day by any means but it was 2 1/2 times my daily stop. And instead of reducing my size the closer I got to my stop I increased it. It was just classic retail behavior. Just so amateur it's embarrassing trading like that. I'm going to post them but I can't even post my R/R because I barely had any.

It's funny how the day just slowly slides against you and you know it and you can't stop. It's a slow motion disaster that you can see and you are causing it. Getting in a car crash driving away and then crashing into some more cars then let's do it one more time while the police are chasing me. (I don't know personally what's that like.)
This loss was double than my biggest day in the past 2 months. So I'm not going to get it all back in one day. I'm going to have to just ding away at it trying to get it all back in a day will only make matters worst.
IF I'M GONG TO DISREGARD MY DAILY STOPS THAT PROTECT ME FROM MYSELF I WILL NOT BE TRADING ANYMORE.

This will be my last post addressing this.
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Creedisgood said:
IF I'M GONG TO DISREGARD MY DAILY STOPS THAT PROTECT ME FROM MYSELF I WILL NOT BE TRADING ANYMORE.

This will be my last post addressing this.
More...

There should be an option that once I set a stop loss or a trailing stop I could never remove it or change it.

That would be a great help instead of having to internaly fight with myself and hearing this every time: John Williams - Duel of Fates
 
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