Chapter 2 Trading journal #110–06/17/2019 — $86
I was thinking about how to place more risk instead of concentrating on how to trade properly. Too many mistakes today and too many subpar entries.
What to work on:
- Wait (Do Not Keep Looking and Searching) > Wait till you See > Think how to place risk
- Draw Momentum and Range levels prior to an entry (Mandatory)
- Start every entry by finding where were the previous “right” entries. (Mandatory)
- Stop adding/ shorting after higher lows were established > Trading of OHLC chart tomorrow to see a clearer picture.
- No Bottom of the range shorts. When there is a range trade, there is no point even watching the tape unless the chart setup is there.
I think I wanted to trade too much today, tomorrow I have to work on avoiding this feeling.
Read the checklist prior to the open
RWLK +$27 ok
IGC +$5 ok
YRIV 0 ok
NBY 0 ok
MAXR -$3 Wrong Got out (Thought this is flag break to the upside)
If short here risk should be above/at HOD
AMPE -$4 This is not y setup
DARE -$4
#1 Wrong add and wrong on higher lows + got out late. With this setup the moment consolidation is going to break I have to be out.
#2 Was an entry against HOD
#3 was an entry against #2
#4 Bottom short, right after I missed the good entries
VIVE -$13
FOMO entry when I saw the offers. Again I’m telling the same to myself when this is a range trade, and there is no momentum and offers show up at the bottom of the range = this is not an entry.
OTLK -$20 Illiquid Shit. I should have not been even spent 1 minute today
VSTM -$31
ARQL -$41
#1 Support held adds were not ok
#2 Were completely wrong trades, there was no setup
Read next: Chapter 2 Trading journal #111–06/18/2019 -$109
Read main Chapter 2 “Peter, you have to start putting green days on”
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