Chapter 3 Trading journal #125–07/11/2019 +$383 (+11R)
Stocks +$169 Options +$220
Tomorrow I have to come in with the same mindset, with the extreme frustration of taking so many subpar setups, of FOMO, being impatient and etc. And just if I take a setup I have to have this adamant confidence that I’m willing to put risk on. This is the only way to scale up for me. All my mistakes I’m aware of I should eliminate and not allow them in my daily trading.
Frustration and Confidence.
*Keep having paper with how many stops outs already in front of my eyes.
Very interesting thought by B. Steenbarger at some point in the trading day; somehow, the mind can get hijacked. ( and I can easily see how tickets do it) and the only thing that we as traders have to confront it is to be completely aware of what’s going on (first aware) and then be fucking angry ( the same way we are when somebody hijacks a PC) these emotions are a good anchor to stop inefficient actions. The idea is, “I will not tolerate someone controlling my computer, and in the same way, I will not tolerate a ticker controlling me.”
It’s not enough to be. Ah, ok, I made a mistake, what can I do? Fuck no. The only attitude here towards all these mistakes should be fear that some fucking ticket controls me and being extremely intolerant when it happens.
RVLT +$70
CODX +$56
NIO +$46
FLKS +$30
FRSX -$8
#1 Mistake here was to take this setup. It was coming right back up, right after the V-bottom and level reclaim. I can and should push myself more to be able to avoid mistakes like this. This is lost money, spent mental capital, and missed opportunity to make money when it sets up.
NAVB -$25
I have to be more diligent with these setups. If I’m in for some reason, and it’s not dropping. It is smart to cover for a tiny loss, then get stopped out and lose 2–4 times more than anticipated.
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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