Chapter 1 Trading journal #30 - 02/20/2019 -$37 “Wrong Trading. Confused scaling with scalping.”

Morning Talk

• This is a new day, whatever happened yesterday with me, my trading, and my PnL — does not exist anymore. It doesn’t mean anything. Only the present exists for today.
• My goal today is to make the easiest money while keeping my risk under control.
• In order to do so, FOMO is not allowed. Ideal entry is on the offer. No chase is allowed. All entries are only after there is a seller on the tape, the one I will be able to hit out with if needed.
• I’m here to make money, not to take trades. Easy and stress-free money is my goal. That’s why patience is a key element.
• I will not short bottoms today, I will stay patient, it’s either my entry or no entry. 11:30 to 1:30 dangerous hours. Stay alerted!
• I will also do mental checks with myself — to make sure my emotions are under control. And I’m not over-involved in the trade.
• Also, starting size 150 share = 1/2 half of Tier 1. Here is no greed. Just business and risk to manage.

Lessons Learned:

• Define trades by the setups and identify stop losses properly.
• For morning HOD rejection — always scale in. Never…