Chapter 3 Trading journal #144–08/08/2019 +$225

Day notes:

What did I good today?

• Mentality. Was relaxed and aware 100% of the time
• Switched mentality after 2 o’clock from being aggressive to being more protective of the gains. Still allowed me to put risk on the table but kept it within my limits ( Give Back rule)
• I was trying to avoid being shaken out. Was thinking/ as opposed to reacting in regards to where is the right side of the trade. Although, I still got shaken out and lost money on the bias switch. ( Specifically, this happens quite often in midcaps. They look weak, but that’s just a look)

What to work on:

• Entries right at the open, I have to stop being stopped out with the first minute or 2
• Again entries are on the way up. Patience, Patience
• Broke the rule today. With mid and large caps — should be no shakeouts or bias switches. They trade 90% of the chart: price and volume. No need to watch the tape AT ALL.
• Again the same observation regarding AMZN and SPY when the rally is strong, NEVER NEVER get short right away. Always let the first pullback to 20MA playout. There are so many people who just waiting to buy the dip at 20MA on 5 min.