Bad day. Not much trends for me. Traded too many ranges which I should not have. No good movement spotted. Need more restriction on my trades.
Very strange movements today. SPY starts running ranges in the morning. Didn't take my profits fast enough. Then the whole day is in a big range. The fist highlight is a nice long setup. SPY starts to go up and this stock has some buying coming in. But I had too much hope on the move that didn't take profits fast enough. Traded a range bottom at the second highlight. Luck enough the range holds. Didn't have much profits though. Overall, not many good entries and I entered the market more than I should. Thought I spotted a cup handle setup, didn't work out. Need to be more patient.
Didn't have much emotions today. In the mean time, not aggressive enough, too much hesitation making trades. I don't know if that's good or bad. Some moves I spotted today First highlight, the selling runs out but did make a final push, didn't make this trade. Maybe because I wasn't that certain that it would go up. And waited a little bit too long until too late. Second highlight, I was ready for the short and did place an order, but was not filled. No entry at least no loss. Maybe I should be more aggressive there.
didn't trade well today. Failed to follow the tape. Traded my thoughts and didn't have tight stops. Every time I trade following my thought not the tape, i got hurt badly. Should have learned that lesson already. Saw some aggressive shorts. And the market has good shorts also, should have been a nice entry to me, but I maxed my loss so no trade. Nice buying in the morning, didn't follow the tape, no entry. Follow the tape, damn it.
Above image is the net realized for September. 11 loss days and 9 winning days. Too many loss days lost over $300. Total 4 days lost over $300. Only 2 days won over $300.00. Need to cut loss. I felt that every time I lost over $180, there is no way back. So for October, control my loss under $200.00. Lost $330 on Oct 1st, hopefully that's the biggest loss for October. Also need to reduce my losing days, that has to do with my trading restriction. Don't enter a trade lightly. Most loss occurred during 11.15 to 13.30. This happened I think it is because I don't know how to trade ranges and this time period has a lot of ranges, no quick and easily spotted trends. Need to cut my trades during this period. Also, losing trades tend to be held longer that winning trades which might mean I didn't stop soon enough. For October, I need to cut holding time. If one trade turns bad, exit the trade immediately.
Had a lot of opportunities in the morning, having problem taking profits. After becoming loss, didn't have balls to take entries. Maybe I need a break. Let's see what it would be tomorrow. If this continues, I have to take a break for couple of days or a week. nice volume into resistance, broke the resistance easily. Entered this trade, best trade of the day. Nice volume increase here. I was in red so didn't enter this trade. Resistance broken with some volume, but was pushed back without support.
"Most loss occurred during 11.15 to 13.30. This happened I think it is because I don't know how to trade ranges and this time period has a lot of ranges, no quick and easily spotted trends. Need to cut my trades during this period. " Interesting, maybe you should consider being out of the market completely during this period.