Best Trade of the Day: Chasing Downside move

Worst Trade of the Day: 24 Anticipation trades of 5 minute failed breakouts

Mistakes:

        1. 24 Anticipation Trades

        2. Did not create plan

        3. Took more than 3 trades per setup

        4. Took more than 9 Total trades

        5. Went through 60$ mental max stop

        6. Profit targets were poorly managed. Scalped when I should have held and held when I should have scalped.

        7. Did not respect risk on any trades. Took first profit way too fast and ruined the rest of the day. I shouldve risked that previous high             because I know that those reverals happen very early on most of the time. 

Solutions: 

        1. Do not take 5 minute mid day failed breakout backside anticipation trades unless there is at least 2 combining factors 

                a. At least a landmark zone (PM high, low, Open Price, Previous Close)

                b. Gap down 

                c. Macro Trend

                d. Trend Break on 10 minutes

        2.  Create a plan everyday starting with deleting all of the trendlines on all indices and NVDA

        3. Never trade more than 3 times per setup. Noticing when to stop is 99% of the battle. Stop forgetting what must be done to be             successful. You cannot afford to take big losses in hopes of some random backside move that you dont even trust.

        4. There will hardly ever be more than 3 setups in 1 single day. there are either "it will fail here, here, or here." Those are your             options. When creating a plan make a "If this happens then I will do x" Statement. If you are correct take the trade and respect             your risk. If you are wrong then you are wrong. Try again tomorrow. If something happens that you dont expect but you think you             can trade you still must create a plan intraday. 

        5.  Again do not go over stops. Create a plan, respect the plan, give it a try, let it work out for you. 

       6. When it is in the morning you know the big moves have a higher likelihood of happening. If you do catch a nice short for a market             push supply zone then just hold that and risk the high. If it breaks directly through key support on the day then let it sit and find a             nice place to take it. 

       7. Only take trades with a setup. If you miss a trade just let it go. There are always more. 

Rules: 

CREATE A PLAN (Make an "If x happens then I will do y." statement) 

STICK TO THE PLAN

3 TRADES/SETUP OR 9 TOTAL TRADES/DAY MAXIMUM

ADJUST PROFIT TARGET DAILY DEPENDING ON MACRO SETUPS

RESPECT THE RISK. TRADE THE SETUP NOT YOUR EMOTIONS