October 9, 2024 (2 Trades) (-$62.50)
Overall Grade: D
Day Summary: Today was Mom's birthday, and unfortunately I traded very poorly. I know days like this will always happen but I did not exhibit any of the good habits that I've been implimenting recently and I paid the price for it. Even though the P/L wasn't too bad, both trades were very bad with both being No Setup & FOMO trades, and that is because I was just thinking about making money. The only positive takeaway from today's trades were that I cut my loss quickly and I walked away after going 0-2. I need to always remember that I am a risk manager first, and I actually did a decent job of that today.
DAILY - ES
5 Min - ES
TRADES
Trade 1 - Short 2 Contracts @ No Setup / FOMO
Grade: D-
- Complete FOMO entry
- short entry at support - bad
- No setup - bad
- Fighting the instraday trend - bad
- had a quick chance to get out BE or a very small loss and I didn't take it
- overall just a horrible trade
FIX: Trades like these must be avoided at all costs
Trade 2 - Long 2 Contracts @ No Setup / FOMO
Grade: D+
- the only real good thing about this trade is that after Trade 1, I recognized that I was on the wrong side of this trade and decided to try it long
- problem was, I rushed the entry because I was revenge trading
- long at resistance - bad
- this trade did end up grinding way higher as I suspected but I got stopped out because I entered too high and too early
- bad execution, but right idea at least
- entry should have been where I stopped out
FIX: Get a better entry. Idea was technically right, but there are still way better opportunities out there than this
Emotions were poor today. Thinking about making money/account balance. Knew these trades were forced and i took them anyways. Only good habits exhibited today were cutting my losers quick, and even mroe important, walking away after 2 back to back losses