Yesterday and today I had intraday drawdowns of -5k and -4k respectively. There is clearly one big problem as I've stated before it is trading counter trend. I have come up with ways to prevent this but haven't fully enacted them yet. It has to be either not taking back to back same direction trades or reversing if I notice I'm a trapped trader on a larger time frame chart. Last week I made money Mon/Tue simply by reversing an initial position. Yesterday a big problem was taking trades before the bar close. I could have avoided at least 2 losers had I done that. M +1,700 Tu +900 W +1,900 Th +1,000 F +1,000 Roughly +$6,500
-4,500 today. I don't think I bought today, except for covering. I had minimized it to ~(400) at one point, but I didn't get out as statistically most reversals fail probably esp cuz I trade off 200 tick charts, hence the -4500. By the time the market had shown a reversal, I was going to hold it until I was wrong anyway as I was up only a couple of points. There are no negative experiences in life. Only neutral experiences that a positive mental attitude uses for profit.
-3000 today. Same exact thing as yesterday. Violated my plan of 1 long 1 short per day. Instead took 2 short and stopped trading. Both these trades were 10 lots and a reversal at either point would be all that's needed for the day. Each trade risk was 1.5 points. Going back to 5 tomorrow. For some reason I can't mentally handle 10 like I do 5. Same thing happened when I was trading 9 I couldn't make money.
Lessons from the week: Even with a method and edge, you must remain in a clear mental state when trading. I can clearly not mentally handle 9/10 lots at the moment. M -4500 Tu -3000 W +2300 Th No trades F +200 Fri I traded one lots and was short before the big move but got out at breakeven. The only reason was fear. Fear of a loss on 1 contract. Gonna meditate this weekend. Got to remove fear as it is irrational if I stick to my rules.
Didn't take one short today. Old habits die hard a guess. I completely understand the reason the market does what it does but I can't fully take advantage of it yet.
Horrible week. M +40 T+ 270 W -910 T -2300 F -1500 Feels a little crazy to do the same thing every day and have such varying results. It make sense though because no day is ever the same even though there are repeating patterns.
Still having trouble regaining my previous stride. I've sized down to 1-3 ctx per day. The total last week was +800. M +400 T +1000 W -100 Th -500