October 24, 2024 (1 Trade) (-$30.00)
Overall Grade: D+
Day Summary: Today was a day with price action that I personally didn't find good, and I spent most of the day sitting cash, content with not taking a trade. However, towards the end of the session, I ended up forcing a FOMO trade which just was not worth it. Although I kept the loss minimal, it still was just throwing wasteless money to the market without a confident set up. I will say, that even after having a good night of sleep, getting up early and some premarket meditation, my thoughts where still not in a very good place throughout the whole session, and that right there should be reason enough to walk and come back a different day when I feel more mentally ready to take a trade. In the end, FOMO got the best of me.
DAILY - ES
5 MIN - ES
TRADES
Trade 1 - Long 2 Contracts @ "Box Trade Reversal" which was actually just FOMO / Intuition
Grade: D+
- Poor entry - catching a falling knife - bad
- Fighting the current intraday trend - bad
- I only entered this trade because of FOMO Intuition - bad
- The actual set up would have been a Box Trade - which actually would have been a perfect trade for today's weak trend (looking back it was so clear, and I actually was thinking that in the moment but just didn't have the confidence to take it)
- The only good takeaway about this trade was that I stuck to my stop (OCO) and I'm glad I did because it dropped quite a bit below where I got out
FIX: Trade playbooked set ups (Box Trade)
Emotions: One good emotional takeaway from today, was that as soon as I got stopped out of this trade, it swept the LOD and popped back up, which gave me FOMO to enter again. Thankfully, I was able to control that FOMO because it turned out to just be a fake pop and I would've taken another loss immediately after. Remember that is is very rare to take a good winning trade when jumping immediately back in after a loser, so good job avoiding that.