July 30, 2024 (1 trade) (-$22.50)
Overall grade: D
Day Summary: Today I was retail af and went against the trend on a no set up entry. It is just extremely frustrating to be making the same mistakes I have been making for years and to be honest I knew the trades I should have taken today and I just didn't. I'm not sure why I hesitate to enter good trades that I have planned out and then execute with no hesitation on random emotional guess trades. That is simply emotional control and if I don't get better at that, I will forever be making trading tougher on myself. And remember, don't fight the trend as usual
DAILY - ES
5 MIN - ES
TRADES
Trade 1 - Long 2 Contracts @ no set up
- this was just a horribel trade
- fighting the intraday downtrend - bad
- poor, early entry - bad
- entry was supposed to be at double line (PML + Target line) but I jumped in early bc of fomo
- As soon as I entered, not only did I know it was a mistake, but I actually knew in that moment the play was short instead (recognizing that was one good takeaway from this trade I suppose)
- thankfully I was lucky to get a small bounce to limit the damage and in that moment I probably should've just reversed my position but after just taking an L I don't like just jumping back in
- after rejecting the top supply zone on 15m, 30m, 60m I should've only been looking for shorts based on my strategy
Emotions: Overall, I was a bit frustrated this morning after taking an L just because i knew to trade was short and I wasn't able to get out and reposition myself. I was breakeven yesterday (MON) and today with a small L I just felt as though I was missing out on all the opportunity but I need to remember that there are always more opportunities ahead and I should plan for the next one. I did however stick to my rules and shut off my charts just after 11am today so that is at least good.