I'd like to become a better trader

[PO]

P&L 0.0 points

I mixed up a bit in the beginning of the day, was long but moved my stop too soon and got stopped out and then reentered too early, so instead of making money, lost money, but made this up in the afternoon.

I've learned my lesson to wait for a proper pull back and not move my stop.

 

[PO]

P&L -10 points

I've been forcing trades the whole afternoon today. the market is in a tight range and I know that my strategy doesn't work well during conditions like that, but greed clouds my judgment. I'm afraid to miss a move. I need to afraid to trade in congestion instead.

 

[PO]

P&L +2 points

I've missed the morning today and made 2 impulsive trades.

 

[PO]

P&L +3.4 points

It's very difficult to make only a few trades a day and not overtrade.

It's especially hard not to get greedy on a day like today, when the move is huge and I feel like I'm missing out. I need to remember that it's the consistency that matters, not winning a lottery.


It's ok to miss a trade, I don't have to get them all.

I can't get them all. When I try to get them all, I end up loosing a lot of money.

I don't need to be long or short every moment when the market is opened - it's insane. I only need to get a few high probability trades.

The market is like an ocean, always provides abundant and recurring waves of opportunities.`

 

[joshuabelanger]

If you want to pursue your business in trading then do it. It seems that you do have potentials on handling this business.

 

[PO]

I'm missing my short entries again today because I'm expecting a bounce. I keep waiting for a long entry and missing all the good short trades.... It's hard to trade what you see, not what you think

 

[PO]

Quote from joshuabelanger:

If you want to pursue your business in trading then do it. It seems that you do have potentials on handling this business.

thanks, I'm working on it.

 

[PO]

P&L +9.8 points

I need to trade what I see, not what I expect

Trade my setups, not my P&L

 

[PO]

After I'm doing well, I usually slip, so I'm going to be reading "The disciplined trader tonight"

 

[PO]

Reading the book clearly didn't help much. I tried going long a few times today. Greed is clouding my judgment. I don't want to miss a huge move to the upside and keep going long only to get stopped out. Instead I'm missing a huge move to the downside that I would be getting if I were trading with the trend.

I'm not even sure why I'm doing this???


I realize that I need to trade my signals with the trend, but keep trying to catch the bottom. It's like a disease and I feel like there is no cure...