Giving back some of morning profits overtrading afternoon

[Millionaire]

Another day of generate gambling.. i mean day trading.

Up around $1000, then gave it back, up about $1000 again, then gave it back again, finally was up $2000.. stopped for the day.

That last up $2000 was another hail marry pass/ revenge trade at double normal size that luckily worked out.
Went Long about 2 hours before the close and got out of those longs when the markets approached resistance.

Im still a blowup waiting to happen, should stick to automated trading. Not suited for this discretionary style at all.

 

[easymon1]

I think I'll find some pc alarm app that shouts and flashes big red "no trading after 11" on all 5 monitors. Its discipline.

Need to get back to trading only two hours a day.
View attachment 276433View attachment 276434

 

[TrailerParkTed]

SRTY looking good, picked up some during the gap after selling all my 3x ETFs because it feels forced. Maybe it's me?

 

[KCalhoun]

SRTY looking good, picked up some during the gap after selling all my 3x ETFs because it feels forced. Maybe it's me?

Right re forced, things are uncertain with current index charts. I went mostly cash to exit with profits today..... closing this winning chapter.

I'm still very bearish so will buy light size (6-10k) of inverses aftermarket tonight. SRTY/TZA/TWM best Russell inverses. SQQQ/TECS/SARK for nas, SDOW LABD FAZ etc all good inverses... should be interesting.

 

[easymon1]

some pc alarm app that shouts

Here's one that runs on my box. Cobbled through windows, can be used in a variety of ways, low overhead on the system vs the online alarm gizmos?

 

[arrowtarget]

Over trading hurts all traders, dont do it. If I make one very good trade, I walk away for the day. Its hard enough to make one good trade, never mind two.

 

[easymon1]

Over trading hurts all traders, dont do it. If I make one very good trade, I walk away for the day. Its hard enough to make one good trade, never mind two.

What timeframe chart do you like to trade?

 

[arrowtarget]

What timeframe chart do you like to trade?

I usually make my money some time between 9:30 and 11. Sometimes from 2:30 to 4.
5 minute charts for daytrades.

 

[CannonTrading_Ilan]

Our latest blog touches on this subject!
Hope it helps: Cannon Futures Blog - Overtrading the Afternoon

 

[BonScott]

To quote britney whoops I did it again, was up nicely in the morning.... then gave back $500 or so trading afternoon plays that didn't work.

Maybe we need to set up a conservatorship for you