Daily setup: breakdown of 3 inside days
Entry/play: short after 1 min pullback
Management: I got in early, so had to hold to where I thought it could bounce. Stopping above that would have HURT. After it bounced where I thought and came back down, I added. Quickly reduced stop. Took p/l target and then squeezed stop, since it ran straight down while market was bouncing.
Psychology: Great. I left a lot on the table by squeezing stop, but that was the right thing to do. Spreads were huge, I was in mega-sized, and market was going against me. I like how I traded this mostly because it was a winner. If I had lost I would have said I was in too big... spreads too big... so I guess actually I got lucky. And when handed luck, I'm not upset to take my piece, and peace!
Popular Posts
-
Thursday is usually my favorite trading day. But today was tough. I wonder if I should be more wary of Thursday before monthly options expir...
-
Since ath April 7, I've had a string of losses. I reverted to old bad habits to try to dig out of the hole, of course making it worse. ...
-
Finally! I crossed the milestone account number. Maybe now I can stop trading like an ass. Premkt notes: Literal flat open. Wait for entries...
-
I am so grateful to have a new account high today. I was somewhat discouraged after Monday and Tuesday, both red. I shifted mentality and t...
