I'd like to become a better trader

  • Thread starter Thread starter PO
  • Start date Start date
I wish i could offer you some advice, but Id say we started our journals at about the time and you have more recent T.A trading experience that i lack.

From what I have learnt you seem to be looking good, im not sure about the technicle but seems to me like the stop loss is then most important aspect and everything else is secondary, (keep in mind i only read the first few pages of your journal,

So knowing that you probably know your stuff slightly better then I do and i can probably catch up pretty fast this is my question,

being a beginner that has done some homework are you showing and positive consistency, or is it kind of random ?
 
my profits are not consistent, that's what I'm working on.

So far I have accomplished one thing, always have stop losses.

What I need to work on in discipline. It suffered again today.

Slow churning days like today are my weakness.

I know from painful past experiences not to short runaway days like Friday, I need to learn now not to short slow days and especially slow afternoons.

Although today was very unusually low vol Monday for options expiration week.
 
P&L for Monday loss $1192


I didn't want to leave for the day with a loss of $600, which was my stated limit, so I paid even higher price for being stubborn. Another lesson to be learned.
 
Quote from Best Loser:

sell 2@23.75, stop 25
More...

closed @24.25 and reversed
long 2@24.25, stop @23
12200 Dow defended, now finally gap fill for the Dow? $tick is picking up.
 
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