Micro: Uptrend
Intraday: Downtrend
Sectors:
Depth:
Trades:
1-7: Micro Reversal Intraday Continuation
Trade Ideas: D-
- Today I was just completely off on nearly every single trade I took. Firslty I had the right idea to go short on the lower high but stopped out 2 ticks before the very top and I ended up losing 21$ right before a 30 point move to the downside. The entry seemed like a hunch so I was worried but im not sure why I was so worried when the trend was clearly facing the downside. I did my classic, re-enter exactly where I stopped out and take another loss on a trade that I was perfectly correct on. That kind of shit just makes me so angry its nearly impossible for me to just flip the switch and be appreciative of the market and my life. At the open we had the VOLD green, ADD moving lower, TICK holding above zero, offensive sectors very weak and selling off. I took the short and my fear was the fact that VOLD was green and TICK holding above 0 but THOSE THINGS DO NOT MATTER IF THE SECTORS ARE NOT ALSO SHOWING STRENGTH. I put so much of my fear into the TICK and VOLD when in reality they were pretty much just neutral and when they are neutral the market goes where the sectors are going and the sectors were going DOWN.Tech was getting bid uplargely after finding its bottom quickly after the open but again this shit does not matter. I care about what is happening from the opening price and tech didnt touch the opening price one god damn time. I need to start paying more attention to the sectors moves from open price and not just "oh they are bouncing strong off the lows lets go long" that shit is beyond fucking stupid. If the TA is saying short, the VOLD and TICK are mostly neutral, the ADD is selling down huge, and the offensives are red FROM THE OPEN PRICE. while Defensives are slightly green.....................Guess what???? THAT IS A SHORT SETUP. Take the trade, stop overmanaging it and losing 2x what you needed to lose. Furthermore, once I took a walk and missed out on the best trading opp of the day cuz i have zero emotional control, I started to go short again but this time it was a lot different. Firslty we have FOMC minutes coming out at 2 and THE MARKET DOES NOT MOVE WHEN WE HAVE UNCERTAINTY. The CPI move started at 830 and ended at 1130. Once it was in the range of the fed minutes, we started to just slowly chop and grind higher in a disgustingly ugly fashion.
Problems:
1. putting too much weight on one indicator meanwhile the sectors were clear as day risk off. Just because one indicator like TICK is above 0 does not mean that the market is going to go bullish LOL
2. Trading before major macro information is released
3. Not paying attention to the sectors from OPEN PRICE. Got too caught up in the price action of just Tech and using it to take trades. There are more sectors than just tech u fuckin idiot
Solutions:
1. Weigh all of the indicators together and if the sectors and ADD are saying one thing while VOLD is below +/-2 and TICK is hardly putting in any large values then the sectors matter WAY MORE than the breadth indicators. If breadth is neutral then sectors are the things to watch.
2. If we are approaching macro news later on in the day then you have to be finished by lunch time at the very latest. Its retarded to think the market is going to have strong moves before huge information like that. Let alone PPI and massive earnings are happening tomorrow and friday.
3. The opening price matters 10x as much as the price action intraday. If they sold at open that is where the money is ......PERIOD. ... NOTHING ELSE TO SEE HERE.... NOBODY GIVES A FUCK THAT THEY BOUNCED OFF THE LOWS HAHAHAHAHHAHAHHHAAHA. Dumb money definitely cares a fuck ton tho so nice job joining the crowd.
Execution: F or 0/10 or completely fucking terrible or however else you want to describe the most disgusting way to possibly execute trades. That is how I did today
- Again, I had the right idea on my first trade and stopped out for 2 two point losses when I couldve just held to my original stop and I wouldve been in a fucking 30 point down move. Instead I got sad at my performance and took a walk and missed out on the best opp of the day which was the next lower high. ITs just fucking dispicable how gross I performed today. Completely unacceptable and downright embarassing. There is ZERO room for behavior like this anywhere in the professional world of trading. If I continue to act like a jackass I will just slowly and inevitably lose all of my god damn money. Then after these 2 tiny losses I proceeded to take 5 extra trades to add some icing on top. today I am 6/7 in losses HAHHAHAHA. You truly need to put in some serious effort to be that fuckin retarded. I was correct on my first thesis of going short then I was wrong on my second thesis of going short mid day. I then overmanaged the position and overtraded a wrong thesis multiple multiple multiple multiple times.
Problems:
1. DONT OVERMANAGE THE TRADE
2. If you lose on the same thesis 2 times. GET THE FUCK OUT OF THE MARKET YOU IMBECILE
3. If you have a shit read on the market today just fucking leave
Solutions:
1. you get 1 fucking chance on the trade you are intending to take. when I say 1 I mean literally ONE. If I have a thesis I need to find the spot where my thesis is dead fucking wrong and I need to put my stop 1 point above or below that area. If I am wrong and it shoots in my favor when I stopped out.......toooooo fucking bad buddy you still cant trade it. Learn how to get better entries if you always have to re-enter the same fucking trade 15 times. If I am overtrading the entries I just fuck up all my potential profits if I am correct
2. If I have a short thesis and I am wrong then 25 minutes later I attempt the same type of thesis and I am wrong again, guess what dipshit???? you are fucking wrong LOL. stop trading that thesis
3. The moment I came back from my little pissed off walk and I saw the market moves 30 points from my exit, its time to just close it all down and let it go. I have never had a poor execution and ended up correct later for me to end the day green hahhahaha. I always just lose more and mroe and more and more and more. Next time walk the fuck away.
Mindset: F-
- Yes again I ended up punching something in my home and breaking it. How insufferable do I have to be to understand the MARKET DOES NOT GIVE A FUCK ABOUT ME. I do not deserve to win and I do not deserve to lose. I am just like every other person in the market and I can be right or wrong in any trade at any moment forever. I am not sure why I am so stubborn and end up trading the same shit thesis 15 times when it is clearly wrong. Doing that accomplishes nothing but me geting just wayyyyy more angry than I should and losing way more money than I should. Its fucking embarassing that I resort to punching things when I lose money. How childish could I possibly fucking be. Shit is just entertainment
Problems:
1. Market doesnt care about me and I for some reason think that when I lose its some personal attack on my fucking intelligence or something when it has nothing to do with that.
2. If I am wrong and I get angry about it and decide to take a walk and I come back and my thesis was actually correct and I just overmanged it and fucked up. that is trading..... get used to it.
Solutions:
1. Remember to have gratitude for the market. Im not sure why I forget this but I was born into the most prosperous country to ever exist and into an incredible family who would support me in pretty much any fucking thing that I ever would want to do. Why do I think this market owes me something???? I am already lucky enough to be sitting in this chair and be in this position and for me to think that just because I work hard that I am owed something, its just fucking stupid and childish.
