If there are 2 themes of today they are
1. STOP OVERMANAGING YOUR TRADES -> SET WIDER STOPS
2. Take your profits at 15 points on options trades. yes you might get more but be a robot for now
1st Trade: Futures (-$25)
Micro Reversal Intraday Continuation
- Stopped out at the perfect low yet again. When will I realize that I need to set my stops wider on reversal trades. I took a $26 loss here and was 100% correct on my thesis. So unnecessary
2nd Trade: Options (-$15) Was up +$70 and decided to not take my profits until my sell target was hit
Micro Reversal Intraday Continuation
- Again I take the exact same trade, same entry, same size, but in my options account so I am able to not feel like i will lose 2 times on the same exact trade. It is so dumb to do this. Take the fucking trade in 1 account, set your stops wide, let it fucking go. One chance a day, not 2 not 3 not 4. You get 1 chance and that is it. If you lose or stop hunted or profit is 1 penny away from getting hit and you lose (like today) then stop trading.
Unrealized Trade: Futures
Micro Reversal Intraday Continuation
- and again yet another example of me getting in AT THE SAME SPOT for the 3rd time of the day just to hold it for a massive loser potentially.