August 7, 2023 (1 Trade) (+$6.00)
Overall Grade: C
Day Summary: Damnn I'm a fuckin bitch. Yet again I take a good trade and instantly bitch out for a microscopic win when I could have had a one and done day. Something needs to be done about this. I am making it significantly harder on myself to stay profitable as a day trader simply because I don't hold the trades I am right on. Like wtf man. You deserve to be rewarded for taking a good trade. A lousy $6 today on a trade where I could have gotten an easy $50 and would have been $90 at the low. Be Better.
DAILY - SPY
5 MIN - SPY
TRADES
Trade 1 - Long 2 Puts @ Top of 1min Channel + 5min channel top
Grade: C
- This was a discretionary trade bc i did not base it off of a key level, but I was confident in this trade
- Stop was a candle close above 1min channel
- Took this trade without a target in mind and instantly sold fot a tiny profit with 1 contract and just put the 2nd one to breakeven which hit before the drop
- If I had stayed with my original stop for the 2nd contract I would have caught the move
- Target here needs to be the bottom of candle #2 on the day or PM Low for this R to make sense - AT A MINIMUM
- This ended up breaking the LOD about 5mins after I exited - right again but didn't reap any of the reward
FIX: Just stop being a fucking bitch and hold your winning trades.