October 21, 2024 (2 Trades) (-$67.50)

Overal Grade: D-

** Trade Journal upload not currently working so no STATS photo **

Day Summary: Man I fucked up today. Not in terms of a huge P/L loss but just exhibiting bad habits after I had the opportunity to walk away with no trades and be proud of that after missing a short opportunity that I didn't take because I wanted to be more conservative with the entry (which is a good habit). But nooooo. I had to trade something and I ended up forcing two trades because of that which ovbiously resulted in well-deserved losers because I was simply focused on trying to make money instead of getting a good read on the chart and taking good trades. That has always killed me and will continue to until I can detach myself from trying to make money in the markets and not just focusing on the process and accepting where I am in my trading journey.

 

DAILY - ES

5 MIN - ES

                                                                                TRADES

Trade 1 - Long 2 Contracts @ FOMO / Intuition

Grade: D-

  • Does this look like a day to be trying to time a the bottom ??
  • Fighting the trend - bad
  • Poor entry
  • Intuition ovbiously doesn't work in a situation like this
  • This trade is simply not worth the risk and just me trading what I want the market to do, not what is actually happening
  • Only good thing about this trade is that I cut my loser fairly quickly, but still not where I planned 
  • The last candles that are printed in this screenshot ended up being the bottom but that is besides the point
  • I had FOMO on this trade after missing the short from 5885 because I was looking for a pop entry to 5890

FIX: Don't try to time reversals on a trade like this, especially without a proven higher low

 

Trade 2 - Short 2 Contracts @ FOMO / "Box Trade"

Grade: D

  • Basically tricked myself into taking a Box Trade that didn't even exist
  • Finally shorting after a proven bottom ?? LOL
  • Poor entry - after a higher low and no key level
  • This was just trying to force a trade to make some money back - revenge trading like a pro
  • What's better than a losing trade ? Two ???? Come on man
  • Deep down i knew this was a bad trade but i did not have the discipline in this moment to stop myself from taking this trade - I need to work on that because I do know that I have it in me to avoid a trade like this
  • Good job stopping out quick at least

FIX: Avoid and DO NOT REVENGE TRADE

 

Emotions: My emotions were good in the first half of the session as I was telling myself that i didn't have a very good read on the chart but after missing a couple good short opportunities, especially the one I specifically described in the Trade 1 Bullets, I lost control of my emotions. I need to recognize that when it is happening and shut it down for the day because that is always followed by unneccisary losses AKA donating money to the market.