I'd like to become a better trader

Discussion in 'Journals' started by PO, Feb 2, 2011.

  1. PO

    PO

    out @1925, not follow through selling.
     
    #111     Feb 9, 2011
  2. PO

    PO

    sell 3@19.5 stop @21, target AHL/S1
    stop moved to b/e
     
    #112     Feb 9, 2011
  3. PO

    PO

    closed 2 @15.5, still hold 1 for test of lower gap top. stop 17.5
     
    #113     Feb 9, 2011
  4. PO

    PO

    close last @15.25
    didn't have enough time to put on reverse position
    NQ is leading to the upside and didn't make a LL
     
    #114     Feb 9, 2011
  5. PO

    PO

    not going to go long here, we may still retest the top of the gap below/S2
    plus it's lunch hour where I should stay out.
    plus NQ and ES are on different pages
     
    #115     Feb 9, 2011
  6. PO

    PO

    was away from the screen and missed my sell set up :( Can't get them all. Not going to engage in revenge trading and try to pick the bottom here. Need to see a set up first.
     
    #116     Feb 9, 2011
  7. PO

    PO

    had an order to buy 3@13.5 on 1-2-3 buy of YL, didn't get filled :(
    priced moved too fast :(
    not going to chase it now as this increases my risk on the trade.
     
    #117     Feb 9, 2011
  8. PO

    PO

    Wednesday's P&L +582 (+4.25 per)

    Overall an OK day, except that I've missed one good entry when we bounced off S1 @3pm.
    I was expecting 1310 test of the gap high below, so a bounce of 1312 took me off guard and I didn't change my mind quickly enough to get on board, even though I saw NQ and YM leading the way up.

    Need to think more of target zone, like 1310-1312, instead of an individual target.
     
    #118     Feb 9, 2011
  9. PO

    PO

    I'm still suffering from fear of losing money, being wrong, or missing an opportunity. Now that I've realized what my issues are, I need to work on them and meanwhile continue to trade small, 3-4 contract to slowly build back my confidence and self-trust.

    The "Disciplined Trader" book seems to be right up my ally so far.
     
    #119     Feb 9, 2011
  10. wrbtrader

    wrbtrader

    Thanks for the thread...it's another example that trading isn't always about entry signals. Thus, sometimes discipline has an impact on profit levels.

    Mark
     
    #120     Feb 9, 2011