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Showing content with the highest reputation on 03/04/2019 in Posts

  1. 1 point
    Live trading summary of week ending 3/1/19 and month of February. Though I have been trading live for 4 months, this is the first month I felt real progress was being made. I had to go extreme with my rules for this month (only 1 trade allowed per day). But, it has really helped reduce my instinct to over trade (from extreme to just bad). It was the first month I did not go hulk. It was the first month I never hit max loss. I did break the 1 trade/day rule once on a revenge trade. It was also my first month with a positive equity. For March I will stick with the one trade a day rule, though I will allow myself a second trade if the first trade was a well executed winning trade. I can’t trust myself after a losing trade. Since my equity was positive and did not go hulk in February I am increasing my risk per trade from $25 to $30. In February I reread both the Daily Trading Coach and Trading in the Zone. Stats for February: Total # of trades 21 Hulk Days 0 Max Loss Days 0 Broke max trade rule 1 Hoy Key Mistakes 1 Good Trade % 43% Neutral Trade % 33% Bad Trade % 24% As for summary of the week ending 3/1/19. Not a good week. Good Trades Neutral Trades Bad Trades 3 1 3 Four out of five days I would consider as bad trading days. Adding 2/22/19 Friday was also quite bad, I am left with only one good day out of the last six that I was happy with my trading. This has left me with very high doubts about my trading again. So next week need to work on checklist especially being careless with the Risk/Reward. Problems need to be fixed internally and externally. As for internally, I will verbally go through my checklist (I video on all my trades with mic on, so it will be recorded) before I take a trade. This is a bit embarrassing to admit that I need to do after trading for 4 months live. As for external improvements, it seems this month on DAS I never got over the habit of having my tech levels automatically listed for you the way Etrade-Pro does. So I was sloppy double checking my levels before a trade. So beside increasing my margins, I will place a note on each chart (I assume DAS has a way for you to do this) from now on listing the two neighboring major levels above and below the opening price.
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