Week Seven Recap · Weekly stats o 2.0 R/R (Goal: above 3.0) [record: 2.7] o 85% (Goal: above 80%) [record: 93%] o $49.03 (Goal: $250) [record: $49.03] · Highlights o Green all week. o Win percentage way above average. · Ongoing things to work on o Cutting your winners short, not getting at least 2R out of your winners o Taking enough trades a day to hit daily goal. o Get out of trades on a new 5min low against your position. o Sim until I hit my profit goal five times before a red day.

I like this guy and how he talks about the way institutions trade. Quote The next time you are gonna put a trade on, you pick up something heavy and you just HIT IT IN YOUR HEAD. And then you write down on a piece of paper where you gonna buy and where you gonna put your stoploss. Don't buy it, but put an order in to buy it where you would put your stoploss, and then watch how many times the market goes to your order. MARKETS WILL GO TO THE OBVIOUS STOPS MOST OF THE TIME.

Good stuff. Trading in the zone is one of my favorite books

Sim Life Going back to sim starting tomorrow, 2/15. My account is getting close to PDT, but I can still trade. I am actively deciding to go back to sim. I am planning to stay in sim for at least the rest of the month. What I want to accomplish in SIM: Controlling FOMO FOMO is my biggest problem and has been probably from the beginning. There are days where I can trade rationally with no FOMO, but most days I do not. I believe the biggest factor for me, is that I'm not actually watching my watchlist stocks that I create in the morning. I can watch 5 stocks at the open. 2 on each of my extra monitors, and 1 on my laptop which is my main screen with my watch list and all other account information. What usually ends up happening is that by 9:45 or so, I have removed half of my watchlist stocks and replaced them with "The usual suspects". I then start to trade these stocks instead of the ones in play. The watchlist I create in the morning becomes secondary to me. One way that I plan to combat FOMO is to stick with my watchlist in the morning. I am adjusting my watchlist to remove the usual stocks that I trade. I plan to remove the temptation from trading AAPL and FB everyday. What I have been doing was using my laptop monitor to flip through everything on this watchlist here, and I was looking for trades to take. I would be constantly clicking and cycling through every stock on my list. I believe the more I click around and the more I am looking, the more FOMO I will experience and the more likely I will take something outside of my edge Sim Goal: Stick to my 5 stocks that I pick in the morning. Stick to my Trading Setups This is a huge problem in addition to my FOMO and I think they go hand in hand. I think that if I can stick to my watchlist, I can wait for the right setups. A lot of the time now when I trade, I take a trade because it looks weak or looks strong and this is absolutely what I should no be doing. I need to stick to my strategies, this is where I have my edge and where I will be making my money. Our strategies work best with stocks in play, so I'm not sure why I have been trying to use them everyday on AAPL, MU, etc.. Sure they will work and those stocks will move more than most other ones, but I need to stick to what I know and use it where I need to use it. I have about 5 or 6 trading setups that I feel work for my style and give me the best advantage. I will go over these in another post. Sim Goal: Stick to my trading edge. Utilize my trade setups and only my trade setups. Learn to set hard stops quickly and effectively One issue that I have at times is that I don't want to lose. I dont mind taking a small loss, but when something breaks past my set stop loss, I have a hard time getting out. It should be an instant exit, but instead I let it keep going, and I try to find a spot for a suitable exit. I need to keep my losses small and manageable. I think having a hard stop will also allow me to feel more comfortable in a trade as well. It puts it in my head that the trade will cost me $X if it goes against me, and give me piece of mind. I am hoping to remove my habit of chickening out of trades. The one issue will be where I do feel I should be exiting a trade before it hits my stop loss. I will be experimenting with that in sim. Sim Goal: Learn how to set up hard stops and set them on most trades. ( I have an exception for 2 or 3 of my setups) Learn to win again I am averaging somewhere around a 20% win percentage now. I dont take winners anymore. I am not winning anymore like I used to. I need to learn to win again, whether that means letting winners run or knowing when a winner is done and exiting before I get past B/E. Let my winners win. Sim Goal: Increase win % to at least 50%.