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This week I am working on my problem of over trading. In the past (SIM), I used 4 dimes to limit my trades. If I made a trade, I took a dime away. This helped me be more selective of which trades I entered. Since going live I have completely ignored my dimes. Today I took some quarters and modified them to help me remember why I began this journey. My end goal is to stop traveling for work and be home for my family. I will no longer “shoot from the hip” and get in any trade that looks promising. I will not survive if I continue to do the same haphazard trading I did in the first two weeks. Week 3: Patience and Discipline I will also be using Chartlog starting tomorrow.

I haven't tried Chartlog and I probably should. I tried Traderview and Edgewonk with terrible results. Both were confused by my cancelled orders on the trade. I am continuously setting orders and cancelling them during a trade. So I gave up on those apps. But Chartlog could be better, I will try it soon.

For that table please use the total profit on the trade divided by your standard risk per that particular setup (i.e. $30 or 1% of BP, etc).

Great entry on TEVA!

Monday 02/24/2020 I had a well-being score of 7/10 this morning. I took 2 live trades this morning with MSFT and SPCE. My watchlist: AMD, GILD, MSFT, AAPL, ROKU, and SPCE. I was keeping my eye on MSFT in the PM. There was an interesting PM level at 168.62. When it broke down I went short with half shares since it was PM. There was a nice spike down to 166.90 that I missed. It was way too fast. I glanced at L2 and glanced back and the move was over. I exited before the open for a small win. SPCE opened with no volume but I really like when the 200MA-1min can be used as a target. It seems to have this price pull in the first minute after the open. I went long with a stop at 29.50 (a price respected in PM). Shortly after theopen price popped very quickly to my target. I like that I was fast enough to catch a partial there, but since it was my target I should have taken off more shares. I just felt it was going to go a lot higher. The price quickly fell and I was out at B/E. What did I do good today? Good use of PM levels and keeping share size small. What I am grateful from today? Pretty lucky getting that fill on SPCE. Happy with my day.

Hi Jordan, sounds great! I will be there with a +1 if that's ok?

Essentially, all systems are based on "R" risk. Instead of thinking how much money or shares you have in the stock most traders try to think in terms of risk which we commonly call "R". This way all of you trades have a consistent risk and your system should work consistently. When I didn't use "R", as luck would have it, my winning trades tend to be small and losers big. Actually this is human nature since we will risk more to prevent losses than to gain wins. Yes the BBT videos and Andrew's book explains "R". Essentially, it is the monetary distance from your entry to your stop. If you plan on entering the trade at $50.25 and there is a strong respected level at $50, where the price drops below you will stop out, your R=25 cents for this particular trade. If your target is at $50.75, great your risk to reward ratio is 2 to 1 and a good trade. If you get stopped out you lose the 25 cents per share and thus you lose one "R". You should always only lose one R. If the risk per trade you are currently comfortable with is 25 dollars per trade (thus the dollar amount you will lose if stopped out) than the number of shares you will take would be (dollar risk divide by "R"). For the example above that would be 100 shares. For every trade the shares will vary even though your dollar risk (if stopped out) is the same. Choose a dollar risk you are comfortable with and I recommend don't change it for awhile. Then calculate your shares each trade depending on your R (monetary distance from your entry to your stop). Your profits will be much more optimized and consistent if you use "R" risk to choose share size. Kyle has created some amazing hot keys which calculate shares automatically when you choose your stop. Or you can calculate it manually, which I did for awhile and it worked out fine. Let me know if that helps answer your question or have more questions.

Feb 8 -16 Weekly Report Top Three Good Trends This week I was able to trade with no fear of being wrong. I entered a few trades that I did not think were going to work out but met my criteria. I had more winners than losers. I was able to keep my losers smaller than my winners throughout the week. I did not have any self-sabotage errors this week. Bottom Three Bad Trends I was having some issues focusing in on trading in the moment. A few of the days I had a hard time keeping my focus on the trade without it wondering. I was not able to stick to my routine after I got into a trade in the afternoon. I have to utilize my routine once I enter the first trade and input the appropriate outs, I need to start scanning the 1-minute charts again for another opportunity. Focusing in too much on the tick by tick action in my afternoon trades. Once in and the levels are set, move on to the next trade. Focus for Next Week My focus this week is increasing risk per share. I am going to start out by increasing in small increments until I reach my tolerance level. I am going to focus in on trading a solid morning on Tuesday, a solid day on Wednesday and Thursday. I will not be trading Friday as I am traveling to New York. I want to really work on trading scanning for a second stock to trade in the afternoon after entering my first position.