September 9, 2024 (3 Trades) (-$85.00)

Overall Grade: D+

Day Summary: Monday after last week's emotional wreck and I was right back to it. Although I did manage my losing trades well, and was somewhat waiting for set ups, I still lacked discipline and entered trades that were subpar set ups. C quality at best, even when I know those should be avoided. I should ONLY be willing to put on risk for A & B quality trades, so I'm not sure why I continue to do that. I was OK with my first two trades of the day, especially since I was willing to cut them quickly, but the third trade of the day was just a total FOMO trade and completely was just throwing money to the market out of frustration. Unfortunately, I did not do what i know i need to do today, and all I can do is focus on building good discipline and habits in tomorrow's session.

 

DAILY - ES

5 MIN - ES

                                                                                            TRADES

Trade 1 - Long 2 Contrcats @ Trend Pullback To Key Level (PM HIGH) + 21 SMA

Grade: B-

  • I said I wasn't going to rate any of these trades better than a C but looking now I can give this one a B-
  • Was going for a 21 EMA Trap but I jumped the gun, bought a key level pullback during a trend
  • decent entry, bought the recovery
  • good job holding a winning trade for continuation especially during a trend
  • The only probalem was I did stop out right where retail stopped out - break of recent low
  • ADD had started to sell off at this point and Nas was showing resistance wicks so the cautious move was the get out but I was basically just the liquidity in this trade here
  • right idea, wrong timing

FIX: Tough .. Wait for a better set up I suppose (A quality)

 

Trade 2 - Long 2 Contracts @ 21 EMA Trap + Key level (PM HIGH)

Grade: C-

  • Poor quality set up, 21 ema trap but no trap ?? No HL?
  • Fomo entry
  • Decent job holding when in the green
  • Good stop out decision after rejection - this could have hurt
  • this was essentially guessing the falling knife on a trap play so I was really just trading what I wanted to happen and I almost got lucky which is not the same as taking a good trap set up

FIX: Avoid this trade and wait for a better set up (A or B quality)

 

Trade 3 - Long 2 Contracts @ FOMO, No Setup

Grade: D-

  • FOMO, FOMO, FOMO
  • All this was was a forced trade out of frustration
  • I'm better than this, avoid !!
  • poor entry
  • good stop I guess

FIX: Get control of your emotions and practice good habits. Don't trade like this simply out of a desire to make money