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Showing content with the highest reputation on 04/02/2019 in Posts

  1. 2 points
    @Sheela A friendly reminder that you are not alone. I have been there over a handful of times. And I personally know how hard it is to recover from it. A couple ideas of insight on what to do going forward 1. Do you have risk controls and a max loss to prevent this? If not, search this forum and our youtube channel for "Risk Controls" and consider implementing them on your account 2. Forget about it. Take the lesson learned, never do it again, but do not agonize over it going into tomorrow 3. Some of my BIGGEST losses are the next day AFTER a somewhat big loss, so consider doing a no trade or 1 trade challenge tomorrow 4. This is a silly one in terms of trading insight, but I promise you it has helped me every single time . . . . Do Something randomly nice for a loved one or stranger. Go out of your way to help someone else or show compassion to someone that needs it. After doing that you might be reminded that Trading isnt everything in Life and there are so many more important things in this world. It really helps me to put everything in perspective . . .
  2. 1 point
    @Rob C Thank you for the support! I can see the intensity and depth in your comments. I totally agree as its internal process which takes time but reduce the impact of risk during that process is very important. Will research on Risk Controls! Have decided to have one small green day (candle stick) everyday to cover the big red day (drop of red candle stick from yesterday) going for couple more days/weeks. Its like Andrew saying, you study Med for all those years and you perform anatomy on dead bodies to learn (like learning on sim in our case) but when its time to perform surgery on a living person, its up to that surgeon sending that patient home happily or somewhere else. We learn all the theory about the stocks all the studies and understand and analyze those strategies very well and we know when to get in and out Etc.... but when we trade live the psychology plays major role and dominates everything else including all the studies and strategies that you very well know- just like surgeon in the OR with his patient right in front of him:)
  3. 1 point
    April 1, 2019 - $JD x 2 (Stopped Out, Partial) I am amazed how much more comfortable I getting stopped out. Today, I got stopped out and started looking for another trade, saw another opportunity on $JD and got a partial out of it. I than went looking for 1 15 min Orb but did not see one that my edge. A month ago I would never of been able to do this while being in control of my emotions. Sample Set Results P G S P 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
  4. 1 point
    Monday 4/01/2019 I had a well-being score of 5/10 this morning. My nerves were bad. A bad start of the month. Hopefully I just took the worse trade of the month. First, since my nerves were bad I didn’t want to take an opening scalp. But MU was setting up so much in the premarket I couldn’t help it. I went long when it broke the premarket high and sold all when it reached the daily level at 42.56. Now all last week I have been taking a partials on scalps and yelling at myself not to since all my scalps reversed after my partial. So today I made sure and sold everything at the TL. Of course it moved another 20 cents after I sold. Figures. But my data, so far, does show I should exit all at my target on scalps. I was pretty happy with scalp of +1.4R. Since my nerves were bad I considered calling it a day and of course in hind sight I should have. I usually like to take a small break between trades to reset. But I immediately saw AAPL was setting up for a good 2min ORBD. I was planning to go short if/when it bounces off of VWAP. Now I am not sure what happen, likely nerves, but I immediately changed my mind and went long to get a scalp to VWAP. Maybe I was in a scalping mode still since I didn’t take a short break after the last trade. I do have a 1min reverse setup. But I only take that when it reverses on a TL with volume. This had neither. The moment I took the trade I was asking myself, “why did I do that?” I haven’t watched the video and not sure if I want to, so I don’t know if I got a bad fill or was I caught in the headlights. Either way my share size is now 2X larger than it should (using the LOTD as my S/O) for my entry. The price actually moved in my favor for 10 cents giving me plenty of opportunity to get out of a trade I knew was bad. But I didn’t and finally got stopped out at -2R. I only remember once last month I had this bad of a S/O and now this occurred on my first day of the month! The market was nice enough to help enforce this lesson by immediately reversing and reaching my target. Also, in time, the market showed if I followed my original plan (short at the bounce of VWAP) it would have been a good trade. Wow, I did a lot wrong on that trade. What I did good today: Fought through nerves and did a good opening scalp. Fought through FOMO and exited at the planned price. How did I challenge myself today? Traded with a larger risk/trade. What I did bad today: Made so many mistakes on the AAPL trade. Ignored my plan, took a trade without a setup. When I realized I was in a bad trade with too large of a share size I did not get out when I could have. Took a -2R S/O. What can I do better tomorrow: I need to take a small break between trades to reset. Since my total loss for today was only ~-0.5R, if I learned and retained something it was worth it.
  5. 1 point
    That is great advise, forget the losses and let's focus on the process not the outcome on future trades you take.
  6. 1 point
    @Fernando Samora We've all been there! You are definitely not alone. I would suggest forgetting about that loss. The moment you start thinking about "making it back" is when emotions enter the equation again. Focus on trading small and trading well. Your recovery plan sounds like a good start. Also look into Risk Controls to prevent these types of days from occurring. Best of luck.
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