About me: 40 years old, been dabbling in trading since forever. Sub par trader, using this journal to write down my mistakes and hope to become a mediocre trader sometime. Hopefully you'll see me do some things right too. Broker: Interactive Brokers Method: Trend Following.
Day 1 of my journal: sold short 100 qqq at 77.27 (9h37) jumped the gun a little bit. saw that the second candle on the 5 min chart was going to be a lower low and a lower high, which makes a downtrend. In retrospect: good entry stop at hod 77.45 added short 100 at 77.03 (10h00) because of failure of bounce move stop to 77.1 (just above bounce) remark: good entries, in line with my plan and discipline stopped out filled at 77.09 for a +.06 on 200 (10h25) not that good, shouldn't have given away that much of my profits. was too focused on where I could add my 3rd position. sold short 100 qqq reason: failure of this bounce and still in downtrend 76.51(11h41) quickly covered at 76.64 (11h46) because the bounce looked like to have some legs. remarks: not optimal conditions -0.13 sold short 100 qqq 76.58(11h59) reason: bounce finally faltering hindsight remark: trade what you see, not what you think. covered at 76.68 -0.1 stop a bit tight. sold short 100 qqq 76.57 (12h06) covered 76.72 End result: 900 shares traded: -$26 + commission, total -$35. Remarks: shouldn't have traded with a headache and diarrhea. Anyway tomorrow is another day. Tuesday was a better day, so I'm still up for the week. Let's see what tomorrow brings.
ok entered long 5 min ago at 78.07 with a stop at 77.94 a bit too tight to my liking, but anyhow motivation was: 2 higher highs and lows on the 5min looking to add here on pullback
few comments came to my mind: 1) It looks like you feel that you had a good entry solely when the trade is a winner. ==> do you have any good entry resulting in a losing trade? 2) You are pyramiding while "dabbling" in trading. ==> any reason why your plan is not much simpler till consistent profitabiliy ? 3) Trend trading ? - Downtrend as defined by LL and LH. - Trade bounce So as to make it easier, are you going to trade only downtrends? 4) Is there a way for you to monitor your health and avoid taking trades when the health is not optimal?
raising my stop to 78.13 seems to be some resistance in the 78.20- 78.3 area willing to take a small profit and look to re-enter PS: I don(t know if this is a good idea, doing this life. i was originally going to do this eod as a journal and to improve and learn from my mistakes we'll see