October 22, 2024 (1 Trade) (+$90.00)
Overall Grade: A
Day Summary: Today I came into the market with a great approach. I woke up a bit early, meditated before the trading session and overall came into the day with a zero expectations approach. I kept reminding myself in the morning to completely detach from the idea of making money and to just focus on getting a good read on the chart so that I could take a good trade, therefore allowing the process to happen. I watched until 10:30am with no good read, but remained in a detached mindset and all of a sudden it was as if the chart was calling me. I took the trade, held through some drawdown (comfortably because I knew where my planned stop would be and accepted the risk and slowly watched the trade play out). That is how trading should be done as this was a very non-emotional trade, even when I was in the red. Very proud of how I approached the session today and I need to remind myself of this every day, and if I do not feel it, then it is best to just walk away.
DAILY - ES
5 MIN - ES
TRADES
Trade 1 - Long 2 Contracts @ Range Fakeout + Intuition
Grade: A
- Although the entry was a little early on this trade, i got long at support which made this trade a lot easier to hold through because I was in the green most of the time and when I was red it was small red
- I had established that a close below the purple line was my stop (based on the 30min chart - not shown) and therefore, I accepted the risk which allowed me to let this trade playout without emotions
- ADD had started to trend green for the first time of the day, so I expected that if NQ also went green, this trade would likely play out to the long side, especially since I had determined that I believed retail would be trying to short at this level
- Once we wicked below my stop level and closed above, I knew I was on the right side of this trade as NQ started to print green and I then felt a lot better about holding this
- Good job not selling at initial highs because I figured this would break HOD even though it was a tough hold
- Had an OCO set and let it play out - unfortunately the bitch ass market makers popped this to 1 tick below my TP and then flushed it - at that point I just decided to get out for +$90 but had the TP hit it would've been +$130 - but that is the manipulated game of trading
- NOTE - on a day like today that hadn't proved much continuation, it would have been smarter to lower my TP to a few ticks or a full point below the key level
- Otherwise, i did a great job managing this trade and exhibiting good habits
Emotions: I did a great job of controling my desire to look for a trade today. I allowed the market to come to me, meanwhile I stayed completely detached from any outcome, before and during the trade. That is how I should approach the markets every day. Around 10:20am today, I had a minor feeling of "I'm not going to find a trade today, I need to find one" but I quickly recognized this, took a breath and reminded myself to stay detached from the idea of making money and sure enough, an opportunity showed up for me. Great, great job!