Chapter 1 Trading journal #18 - 01/30/2019 -$98 “I fucked up the day” day.

It is about making money — not about trading.

Taking one trade with a tight stop — there is no harm in it. However, it is like cigarettes. Constant reiteration of the bad habits leads to being down for the day.

My February concentration will be on taking only setups from my playbook, with good entries and exits. Every day I need to keep checking with myself. Am I in the right setup? This would be the main checklist in my trading journal.

Day overview:

• Stay away from crowded stocks with Volume. Take the easiest trades.
• Trade morning pops only around significant levels
• DO NOT TAKE NOT YOUR SETUPS.
• If you trade Range> you always should be on the right side.

$CODX +$12 “Short the pops”

• I spent so much mental capital with this one — that I would have been way better either just waiting for a backside or just entering on 3 minute rejections.
• This gonna be my action play for the most wanted stocks. Identify levels, trade only around them, watch 3 minute. That’s it.

$EKSO — “Low High”+$12

• Didn’t hit the bid, when I should have. Right after rejection.
• Covered into the wash.

$BTX -$9 ??? Should have stayed away from this one.

• Don’t see any setups here except rejection on some volume. Should have stayed away.

$CRON -$24 “Low high” got invalidated I got stopped out twice. Finally were right, but because $CGC and being on the tilt- didn’t manage it right.

• Lesson number 1: The stock was not moving my way big time, but trading around the core, was working — I should have not stopped doing it.
• Lesson number 2: Do not trade other sympathies (like I did with CGC)
• Lesson number 3: Be aware of who’s leading (Cron here) > Stay away from the fucking leader.
• So the best choice for me was to avoid trading it. Completely,

$CGC -$87 Biggest mistake of the day.

• Lesson number 1: Do not trade 2 sympathies
• Lesson number 2: Do not trade, what you don’t trade.
• The biggest problem here was that I thought and got in at the bottom of the range with the idea it will drop. But it didn’t. But I stayed with the stock.
• I fucking FOMOed. That’s what ruined my whole day and week eventually.

Read next: Chapter 1 Trading journal #19–02/04/2019 +$54

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