Chapter 2 Trading journal #135–07/26/2019 -$110
Extremely pissed off at myself. Kept losing money because of breaking my rules. This is just stupid.
Was in the wrong mentality, I wanted to have my risk on, took many subpar entries. I should not have taken.
Next week classify every trade by:
Setup, Stock, Time, Chart, Entry ( A,B,C,D ratings)
- Stock
- Chart
- Time
- Entry
The main rule for the next week. No Setup = no Trade. It’s time to stop breaking the rules and start making money
Starting Monday. It should be like a Snap. Every trade, I go A, B, C, D. Every trade!!!!! Every trade: this is the rule! This is my New habit!
Every day I will start with setting a set of rules( full next week, these are A and B trades only) following the system should be done by not making mistakes.
Start Monday with a workout!
Options note:
With $AMZN, due to the Theta, a position had to be taken within the first 30–45 minutes max. It decays a lot after it
Make ABCD and make a plan for the next trading month till September. The next 5 trading weeks concentrate only on these. The first week — no D at all!
Subscribe for market Chameleon
CTST +$42
#Broken rule 1. Had a D entry — it was TOO far away from my average
#Broken rule 2. D entry — if exist — should work right away or get out for a penny loss. That’s it.
TWTR +$28
REKR +$24
Late add — didn’t give me the confidence to hold
SLDB -$4
Broken rule#1 D — entry
Broken rule #2 D entry, Wrong trade management. I should have gotten out right away.
VSTM -$9
HBIO -$10
Broken rules again: C-Time, C- chart, C entries. (A stock, though)
SPY -$15
SMSI -$41
FB -$41
SNAP -$84
The chapter associated with these trading journals is still in production.
Read from the beginning: Chapter 0. What it takes to be a seven-figure trader, and how it all started.
or read my latest post: Beginners guide to trading mistakes. Common day trading mistakes with 50+ charts and examples.
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