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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.

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%.