Chapter 1 Trading journal #28 - 02/15/2019 -$76 “Was all over the place. Have to stop this habit.”
5 min readOct 12, 2022
Day overview:
Positive:
- I decided to concentrate only on 1 stock I was trading ACRX, even though I saw some other stocks were setting up. I stayed with this one and was able to manage my risk perfectly. Prior to every entry, I knew where I wanted to be stopped out, I knew where I would hit out for the half, for the add. Where is my ultimate risk? I managed the first part of the trade really well until I screwed up with re-shorting and etc. I need to continue to play defense with the stocks and concentrate only on the stocks I’m trading.
- I recognize all my weaknesses below, I need to keep working on them.
Negative
- The whole week I over traded
- I got too excited, shorted bottoms, and got into the setups outside of my playbook
- I had a really great collection of the parameters for my setups. I know what I want to see, what I don’t want to see, and what I’m ready for. Did I follow them? To be honest only the first 2 trades. After those 2 trades — I was just trading price action.
- I was watching so many setups I was not fast enough to take and that was what was making me take other trades after the good ones…