The hits just keep on coming. Today started off well enough. Two early AM pullback trades left me up around $400 heading into the opening bell.
Traded the gap fade with 1/3 of my usual size due to gut feel more than anything. Wasn't going to take the trade at all if we opened below 1100. Stopped out for a $337 loss on this trade right away.
Still there were some positives today. I nailed two false breakouts, though only one was nicely profitable. The other I let work too long and ended up exiting at breakeven.
For one reason or another, I'm being way too patient with my exits. In past months, I've found myself exiting trades too early, and now I'm having the opposite problem.
As with yesterday, most of my damage today occurred on an afternoon trade where I was anticipating further downside that never materialized. Today was a strange day where if you didn't short the opening tick and hold for 30 mins you probably lost money. After about 10:30 am it was chop city.
Still regardless of what happens tomorrow this week has been absolutely horrid. I'm now in my 4th day of drawdown. Need to concentrate harder and stay focused on risk management.
Emotions Traders Don't Talk About
1 week ago
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