My Day Trading Journal

Closed out overnight short on MXL for a win, lost on SCMP short, won on CWEI short, small scalps on HTZ and LABU shorts.

+$264.34 in 3.5 hours

 

* +$263.34

 

Good day tonynyc
Could you give some detail about your background.
Thank you for sharing your journal.

 

Couldn't get anything going today, over traded, red day

Shorts: ANTH, CAT, MDRX, DIS, ZTS, CAB

Longs: GILD DRYS

-$262.84 in 6.5 hours of trading

Opened a swing short that's looking good for tomorrow.

 

Closed $BBBY swing short from yesterday.

+$627.37 in 2 hours, +$1,296.80 for the week

 

Nice work. Just keep focusing on minimizing your trades. I know it seems like you're giving up a lot sometimes, but if you lose your focus due to overtrading, it can all go downhill fast. Simplify. Mind you I'm not just lecturing. Speaking from hard experience. Let the market tell you what it wants to do. If it isn't saying anything, there's probably no edge, and thus no trade.

 

Thanks a lot for the advice, I'm going to try to limit myself to 2 trades a day.

 

Sometimes after I've traded badly, I'll just ignore the markets. Then a miraculous thing happens. Out of the corner of my eye, I'll spot a great opportunity which, if I had been overtrading, I never would have been able to participate in because I either wouldn't have seen it, wouldn't have believed it, or were just too worn out. I need to stay loose to be effective. We naturally tighten up a bit when in a trade.

 

I hear you, let the market come to you, don't force it, have to keep repeating this to myself.

 

After all, it really comes down to trusting ourselves.