All trades and reviews of trades are posted in the playbooks of each of these setups. 

1&2 Playbook: Opening Range Breakout (tradejournal.co)

3,4,5 Playbook: Intraday Continuation (tradejournal.co)

 

    Today I made a major mistake in my judgement. I went short when there was not 1 single reason to do so other than my stupid price action analysis of "oh it spikes through HOD and sells off fast, I bet it fails at some point." That is a purely intuitional idea that has zero basis on reality and every basis on my own bias and poor mindset. I will NEVER be a successful trader if I fail to recognize these problems extremely early on. I need to only be looking for intraday continuation on higher lows and lower highs for longs and shorts and when I have a "hunch" that the trend will change with absolutely zero evidence to back that claim, I will lose every single mother fucking time.

How do I fix this?

1. VOLD trending up

2. ADD trending up

3. TICK clearly bullish

4. Sectors all moving higher off the low

5. Financials moving very strong in premarket and at the open. Regionals and top 10s

DO NOT SHORT THE MARKET WHEN EVERYTHING IS TRENDING HIGHER

 

What was the smarter trade and why?

    - Every single depth indicator was trending up. This is the most obvious uptrend of all time. Do not fight the trend.

    - More uptrends amongst all beaten down banks

    - More uptrends amongst all sectors

    - I couldve gotten long on these pullbacks but they were all very tricky trades to take. I think the first big drop was just nearly impossible to take long because it couldve easily been a big lower high but the mid day consolidation was a clear signal that we were making a ton of higher lows and a ton of bottoms leveling out together. The VOLD ADD TICK were all getting more and more bullish and again, the longer it takes for a trade to work the less +EV it has. Dont be the fool who follows his intuition. Follow the system. If everything is trending in 1 direction you find a level of key interest and you get long in those levels looking for higher lows and lower highs.