DRC January 16, 2024

Lesson/Review

Its totally okay and fine that this happened as its impossible for it to never occur but I had the perfect idea on my first trade. Risk OP and see if we use that as resistance to go down to PML. That was about a 20 point of potential range for the ES and at open Weight was moving higher and I was waiting for it to do its daily fakeout before its selloff and I got in for the risk of op and then stopped out right at OP?? I have no idea why I would do that other than my not realizing it was 4 points away. I was simply scared to lose more money and that is it. Trading doesnt care how scared you are, it only cares about how optimally you can make a decision based on your strategy. I made a decision that was fully 100% correct and my plan was absolutely 100% perfect yet I let my psychology creep in and scare me out of the trade, Then when I got back in I couldnt hold it because I was already down from the first trade and terrified of losing more, even tho at that point the trade was a near certainty to happen. This is okay to happen every once in a while but this is a -150 to a potential +500 swing so that is $650 of profits that I wont be having because of a missed execution that was purely impulsive. This just shows you how much trading is about psychology still, even when you have a bulletproof strategy.

Table of Contents
  • Loading TOC...
Helpful TradeJournal Resources

Learn more about trading journals and how to improve your performance:

What is the Best Trading Journal?

Discover the 3 features that make a trading journal profitable: time savings, AI pattern detection, and free mentorship.

Free Trading Journal Template

Download our free Excel and Google Sheets templates to start journaling today. Perfect for beginners!

Free Pro Trader Call

Get a FREE 20-minute 1-on-1 onboarding call ($300 value) with every TradeJournal subscription.




Back to the post list  ⋅  0 comments have been posted.
Sample Toast 11 mins ago
tradejournal test feature