October 2, 2024 (2 Trades) (-$90.00)
Overall Grade: C-
Day Summary: Today was my first day back to trading in a week and a half because I was in México last week with Eury and Oscar so I skipped trading all week which was a very, very smart decision lol. I also was online to trade yesterday for my 30th birthday and saw 2 decent opportunities that I passed up on that both would have worked out, so I'm not going to lie that I came into today with the feeling like I needed to place a trade today. I also didn't wake up feeling very good. I felt tired and had a headache even though I didn't drink, but those are the days I need to reconize that and step away because it really ins't worth it. My first trade of the day was not horrible, as I did have an idea and "set up" but I got in early based on trading what I wanted to happen and not what was actually happening. Even though the market did end up doing what I thought it would, I had an aggresive early entry and that caused me to stop out before the move. That is trading though and you will be wrong sometimes, so I am ok with that but my second trade of the day was completely unnecesary and was literally just throwing money away to the market by guessing. The only good habit I exhibited after that was immediately shutting it down and walking away for the day.
DAILY - ES
5 MIN - ES
TRADES
Trade 1 - Long 2 Contracts @ "Range Fake Out"
Grade: C+
- I was looking at what the chart did at 6:15am and thinking we might sweep that low and reverse back up off of PDL
- 30min also looked good for a sweep low and go (4 reason markets move - generate liquidity) and this is ultimately what ended up happening but I was too early
- Now looking at the 5min and 15min charts, this was a dangerous trade and the market in no way was screaming to me that this was an opportunity
- I need to remember to stay focued on taking only the trades I am super confident in
- entry was aggresive but I waited for a close above PDL so it wasn't horrible and I stuck to a decent stop so I can't be totally unhappy with this trade (see result below)
- Target was the open supply retest and that did eventually hit but this trade in general was just too risky, especially at 9:40am
- cut loss quick which is good
FIX: Wait for the trades that I am extra confident in, even if this trade did work it was risky
Trade 2 - Short 2 Contracts @ No Set Up, FOMO, Intuition
Grade: D-
- Horrible trade - this was literally just straight guessing
- I was literally on the phone with TS support when i took this trade so ovbiously I wasn't focused
- Fighting the current intraday trend - bad
- No set up, guessing, fomo, feeling like I needed to trade today, not feeling like i was seeing the chart well - literally all just so bad
- Nothing to say about this trade other than I knew I shouldn't have taken it and I did it anyways so that is simply a lack of discipline
- Only good thing I did on this trade was cut my loss quick
FIX: Remember to wait for the market to present opportunities to me. Every time I go looking for a trade I will most likely lose and even if i win it will just be because I got lucky
Emotions: My emotions were completely out of wack today and I knew that before the market even opened. After taking my first loser they were even worse and I knew I wasn't reading the chart well and I still stuck around to take this horrible trade at 11:20am. I just need to be better, because I already knew today wasn't a day i should be trading
