October 25th, 2022
-Tough day. Stuck to my rules except the "no trading for 30 minutes after loss. Also, I took 4 trades that were completely based on nothing other than my assumption that the trend will change.
.
1d:2m
1d:2m $SPY 1st Trade: Frontside Short
- Very stupid trade no matter which was it is seen. Anytime we are above trend and above 9 and 20 its a frontside. This is a frontside short and needs to be avoided at all costs. Very low EV and complete shit of a trade. Not something that someone who is a professional would do. Lost $16
1d:2m $SPY 2nd Trade: Frontside Short
- Yeah I made money on this one but just gross still. Frontside shorts just cause you to short more frontside moves and it just never works. Need to wait for trend to break before doing anything other than what the current trend it. When its broken and you still lose its simple. STOP TRADING.
1d:2m $SPY 3rd Trade: Trend Reversal
.
-This is the only trade that makes sense on the day. I shouldve taken only this trade and left immediately after I lost. This is the perfect example of a grinding green day. Test the trend after huge move higher then fakeout shorts like me. Makes perfect sense and I shouldve just stopped right after this but nope.
1d:2m $SPY 4th Trade: Frontside Short
-Another bullshit trade here. No reason to take this. No edge present whatsoever.
Solutions to this day:
NEVER SHORT ABOVE TREND.
NEVER SHORT ABOVE 20EMA
NEVER SHORT GRINDING GREEN DAYS
Its pretty simple to do these things. I just need a life and not be sitting infront of my computer all fucking day. I need to go outside more and care less about this challenge. When I use this as a means to an end all it does is create pain in my life hahhaa. I thought I would care less with a smaller account and smaller profits but today it just crushed me to lose only 21 dollars. Idk why it felt so shitty but I think its because I know that most of my trades were ones that I shouldve just left alone. It was not a day worth trading but I still broke the rule of shorting grinding green days. Disappointing to myself mostly.
Easy Money Trades: Pretty much any trade but just long instead of short
-This was kind of it. Not really any long setups throughout the day. higher lows were extremely ugly and the only long trade that was actually pretty was this opening range breakout or opening drive trade. I probably would never take this trade considering the shithole of a market we are in but if I see it more consistently there is no reason to not take them.
Takeaways:
Be more focused on where the true momentum lies on a day like this. We just broke the micro downtrend and are moving higher. Until we find strong resistance and show very clear moves that are giving potential downside then I should be focused on finding long moves. Its stupid to fight the trend and the best traders in the world find the momentum and stick with it not against it. I have known this for so long and for some reason I still just consistently do this over and over and over again. I need to find that side of me that just doesnt give a fuck about the money and only cares about the execution of the trades. That is what is missing.
