Second weekly recap of the third month of live trading. This week I found testing my self-discipline has aided in dealing with FOMO.
Weekly Analysis of trading
I found myself fighting FOMO this week a lot and hitting my goal of only trading my edge within a 15 min ORB was easier than in past weeks. I once again managed to meet my goal each day. I set my goal to trade a sample set of (20) 15 Min ORBs with certain indicators and confirmations. I did this because, through my self analysis I noticed myself chasing trades and giving into FOMO instead of finding good setups resulting in unnecessary losses. I figured in order to overcome FOMO and resist chasing the trade, I would face it directly everyday until I could emotionally overcome the urge to enter a trade outside my pre-defined setups.
As of Friday, I have completed 13 of 20 trades and I have seen a drastic change in my psychology before the trade, during the trade, and after the trade. As long as I traded within my edge, I am less nervous and even if the trade goes against me I am not depressed, upset, or frustrated because I know that I can't win every time, but the probability is in my favor. This has also been reflected in my net equity curve over the past three weeks.
Weekly Overall Self Rating: Positive and looking forward to Monday
Daily Goal Hit – 5 of 5
Daily Max Loss – 0 of 5
Goals for the month progress
1. Traded within my edge all week.
2. Increased Share Size
3. Met 2:1 ratio and above a 60% average win rate
Risk Controls
1. Did not trigger Max Loss control all month
2. I did not hit Max Share traded in a day.
Trading Methodology
1. Increase share size for Monday January 14th.
2. GGGGG