I'd like to become a better trader

  • Thread starter Thread starter PO
  • Start date Start date
Quote from Best Loser:

sell 3@19.5 stop @21, target AHL/S1
stop moved to b/e
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closed 2 @15.5, still hold 1 for test of lower gap top. stop 17.5
 
close last @15.25
didn't have enough time to put on reverse position
NQ is leading to the upside and didn't make a LL
 
not going to go long here, we may still retest the top of the gap below/S2
plus it's lunch hour where I should stay out.
plus NQ and ES are on different pages
 
was away from the screen and missed my sell set up :( Can't get them all. Not going to engage in revenge trading and try to pick the bottom here. Need to see a set up first.
 
had an order to buy 3@13.5 on 1-2-3 buy of YL, didn't get filled :(
priced moved too fast :(
not going to chase it now as this increases my risk on the trade.
 
Wednesday's P&L +582 (+4.25 per)

Overall an OK day, except that I've missed one good entry when we bounced off S1 @3pm.
I was expecting 1310 test of the gap high below, so a bounce of 1312 took me off guard and I didn't change my mind quickly enough to get on board, even though I saw NQ and YM leading the way up.

Need to think more of target zone, like 1310-1312, instead of an individual target.
 
I'm still suffering from fear of losing money, being wrong, or missing an opportunity. Now that I've realized what my issues are, I need to work on them and meanwhile continue to trade small, 3-4 contract to slowly build back my confidence and self-trust.

The "Disciplined Trader" book seems to be right up my ally so far.
 
Quote from Best Loser:

I'm still suffering from fear of losing money, being wrong, or missing an opportunity. Now that I've realized what my issues are, I need to work on them and meanwhile continue to trade small, 3-4 contract to slowly build back my confidence and self-trust.

The "Disciplined Trader" book seems to be right up my ally so far.
More...

Thanks for the thread...it's another example that trading isn't always about entry signals. Thus, sometimes discipline has an impact on profit levels.

Mark
 
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