January 28, 2025 (2 Trades) (-$186.25)

Overall Grade: D

Day Summary: Today I felt like I was seeing the market very well in Premarket, and had a solid plan for a trade at the open, however due to a lag on an order right after the open, I didn't get filled and watched the trade go to TP just a minute or two later. That would've been a quick +$100 and probably would have been the only trade I took on the day, but that gave me FOMO and I went and forced a dumb trade after that, completely ignoring what price action was telling me. I also had 3 contracts and held past my planned stop so that created more damage than necessary. I then could not recompose myself, and took a horribly stupid throwaway trade. That was only a $15 loss but still just a waste of money. I need to remember to stay detached and wait for the market to scream at my to take an entry like it was right at the bell today.

 

DAILY - ES

5 MIN - ES

                                                                                TRADES

Trade 1 - Short 3 Contracts @ 4 Targets + 21 SMA Reject + BIAS

Grade: D

  • FOMO from missed opening short trade due to lag - *tried to get filled short at 6058 with target at yesterday's HOD*
  • I was biased for a move lower based on a 4 Targets set up (looking for an equilibrium line below on the 30Min)
  • FOMO entry - where I ended the third contract was actually my intended entry for this trade
  • Completely ignored what price action was telling me (HLs) even though I saw it and recognized it - too biased
  • Help past STOP - stop should have been at a candle close above 6040.75 where the oval is
  • Good thing I got out where I did or this could have very quickly been much, much worse
  • oversized on a trade that was not A quality - I knew this trade was not a great trade from the start

FIX: Had I entered normal size, where my intended entry was supposed to be, and stopped out where I had planned, this would have been a very small loss and easy to recoup

 

Trade 2 - Short 2 Contracts @ FOMO + Revenge Trading

Grade: D-

  • Not much to say about this trade other than that it was real, real bad
  • No set up, just completely revenge trading - bad
  • fighting the ovbious trend - bad
  • no key level, no set up, nothing - so bad
  • The only thing good about this trade was that I immediately realized how bad of a trade it was and actually took the opportunity I had to get out for a small loss. In the event that I take bad trades, which I know I will because I am human, I need to remember how important it is to take the small loss and move on. It will be so much easier to recoup a bad trade if I keep the loss small like this

FIX: AVOID THIS TRADE

 

Emotions: Remember that there are always more opportunities coming, and even though I missed one that I was right on because of a technical error, that doesn't mean I should go trying to create opportunities that aren't there. FOMO is a bitch and I need to remain detached from the outcome, and let the opportunities, and in turn money, come to me.