Chapter 2 Trading journal #81–05/06/2019 -$97
Extremely disappointed myself today. Was coming in with the mentality — that I don’t want to miss any setups. Instead, I was forcing entries and size. Tomorrow I won’t do the same mistake again.
I lost 5R today. First of all, this is unacceptable. Secondly, this caused a range of missed opportunities and trades I didn’t take. Tomorrow will be back to what I’ve been doing for the last week. Proper patience, proper sizing, proper risk/reward.
AMTX -$49
I was not fast enough to hit the bid when a stock was dropping.
The biggest mistake in the consolidation was adding more and more size, thinking it will go down 35s are holding. Instead, I should have kept the proper size against 39 level — this would have allowed me to stay in the trade and avoid shakeouts.
OVID -$39
#1 Got out with no reason. Felt it will rip.
#2 At this point there was no setup whatsoever. Holding 1min 20MA — should have just let it play out.
CFMS -$9
I knew this setup — I traded RBZ, VRAY, and QD — The right and only proper to trade it is to have a stop above HOD; add 0.3R initially + add 0.3 R on the pop — while the stop is still in the same place. Here I saw offers at 90s — 70K and at 86s 25K — I was leaning on them and was stepping in front of them. when they took 65K on one print — I thought it will go and get out. Instead, I should have just traded this setup as I knew better.
Read next: Chapter 2 Trading journal #82–05/07/2019 +$12
Read main Chapter 2. “Peter, you have to start putting green days on”
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