July 24. 2024 (1 Trade) (-$13.75)
Overall Grade: D+
Day Summary: Today was my first day back trading Futures since May of 2023 in Natal, Brasil. After taking no trade days on Monday and Tuesday of this week I was anxious to find an opportunity to trade, which is already a bad mental state to start the trading day with. I need to remember to enter every trading day with no expectations because trading will always have a random output. To top that off, I wasn't liking the price action through the premarket because I typically feel less comfortable with a downtrending market. I did see some opportunites and was leaning short but didn't feel comfortable enough to execute. Oo btw, the S&P died today. Forget to mention that so short was definately the trade to take ... and guess what I did ?? (See below)
DAILY - ES
5 MIN - ES
TRADES
Trade 1 - Long 1 MES @ "It's Gotta Bounce" + Daily Demand Zone
Grade: D
- unnecessary af - bad
- why fight such a strong mf trend - bad
- I knew that the trade was short here but bc I was scared of a shrek candle I decided to go long instead - THAT MAKES NO SENSE
- This is basically the short version of a trade setup I was looking at last night and I kinda realized it but couldn't get myself to take it
- at least this was 1 contract and i cut my loser - risk management was decent
FIX: Avoid this trade - no reason to go long on a trend day like this - take the blue book and be happy - don't fight strong trends
Emotions: The good thing about my emotional state today was that I didn't force longs all day and take a big red day and rack up comissions. Blue book is better than red. However, I did piss away money today for no reason and that was purely to do with my emotional control. After 2 days of no trades, I wanted to trade today, and that is not the right approach to have. Be patient, Be objective. No expectations. If I see a set up where I have edge (not today) take it.
