Chapter 2 Trading journal #41–03/07/2019 +$76 Not the best trading. Regained some confidence.
Morning talk.
Today is a new day, a clean slate. So forget about whatever was happening yesterday or a week ago. What is important today is One Good Trade. One good Trade. And that’s the only mentality you have to have for today.
- Slow down. Do not jump on every setup called out. Give it some time. Take a look at it. Get in sync, and understand what is happening, what could happen, and what should happen. Join.
- Stay with your winners and follow price action, if the price tells you to cover — cover. It’s ok to re-enter.
- No matter what — you do not react. Today should be an emotionless day. At least you should not be getting any emotions from the trading.
Positive: was not married to the stock. didn’t allow any losses higher than $20. I was able to let them go. Over trading — I was definitely feeling it. I was recognizing it. But not as good as I could have. But here is some progress.
Negative: The quality of trading decreased dramatically after 2:30. I was chasing. Shorting bottoms and etc. The only play where it’s ok to short bottoms. when 5 min and 1 min cups are setting up and risk is ok.