Journal XburbX - My Plan
- Thread starter xburbx
- Start date
I took two trades today on GS. Both long. It was the only stock I was looking at today. The first trade was easy to manage and the second one was a "plan tester". The good news is, I stuck to the plan. It was for a small loss and ended up positive for the day. I was in and stopped out in about 5 minutes. Small positive on the day, but positive none the less.
I am taking notes on all my trades and will be analyzing the snap shots around mid August to see if there is anything in the plan that can be adjusted for more profit and less risk. I try to keep the visual conditions as similar as possible when creating lines, prices boundaries etc. Exactness is important. I am not sure if that is a word. I dont think it is.
New money in my account.... is better than- "MY" money in someone elses
I am taking notes on all my trades and will be analyzing the snap shots around mid August to see if there is anything in the plan that can be adjusted for more profit and less risk. I try to keep the visual conditions as similar as possible when creating lines, prices boundaries etc. Exactness is important. I am not sure if that is a word. I dont think it is.
New money in my account.... is better than- "MY" money in someone elses
Damn straight....
======================
XB
From the heart
Monday â followed the plan
Tuesday â followed the plan
Wednesday â followed the plan
Today â followed the plan
Anything I say this evening; even posting thisâ¦, could potentially jeopardize a weekâs worth of hard word
Simply want to say;
Weâll talk more this weekend
Good job today
Trade well tomorrow..., regardless the outcome
RN
Something must have hit the news around 130pm today. Price jumped on everything. I have a few stocks I was watching to set up for a trade but they all seemed to just miss and entry area. They were creeping to it, but then 130pm hit and all bets were off. Unless the next 1hr send me a real nice set up, which I dont see happening, I am done for the week. Positive overall.
2 lessons
1. If I focus on executing my plan it takes the emotions of the connection to money away. I was so focused on doing what my plan says that the money and stocks outcome didn't have a mental impact on me.
I would say this was the main lesson this week and I didn't realize it until after the trades were over, win or lose.
2. It pays to be patient. I didn't take a lot of trades this week but sitting and waiting ended up making it a profitable week
1. If I focus on executing my plan it takes the emotions of the connection to money away. I was so focused on doing what my plan says that the money and stocks outcome didn't have a mental impact on me.
I would say this was the main lesson this week and I didn't realize it until after the trades were over, win or lose.
2. It pays to be patient. I didn't take a lot of trades this week but sitting and waiting ended up making it a profitable week
It is 3:10 and it looks like there won't be any more trades today. I took one on GD for a long at 10:35. It was stopped out immediately. No big deal as it's part of the plan. There were some "almost" trades today that tested my plan a bit. They were only off by a small small detail, but I stayed out. Today I realized the best thing to do when I think I might trying to make a trade work rather than let the market tell me, is to delete all lines and not look at that chart again. I am looking for clear trades.
So in summary, one trade with one loss. No big deal.
I followed the plan and didnt lose my shirt. No complaints.
So in summary, one trade with one loss. No big deal.
I followed the plan and didnt lose my shirt. No complaints.