Thursday, December 24, 2020

Thinking 2021 goals

I'm deciding whether/which goals to set for my trading in the coming year. 
The one goal which is absolute certain is to trade my clockwork rules: 
- Small size
- Tight stop is the right stop
- Pay myself first. Get my piece and peace!

When I follow these general rules--when I trade like clockwork--I trade well and the money comes. 

Other aspects of my trading are more nuanced. More art than science, maybe. Picking my best setups, waiting for good entries. Scaling out. 

In addition to daily balance tracking and narative journaling, I want to add some analysis on my "stats". I have discovered that I can download my p/l to a spreadsheet so that is an easy way to enter trades. I want to track at least my win/loss ratio and hope to sensibly assess that along (ex: how to handle split/grouped lots) with my $ p/l.
To be continued.

Tuesday, December 22, 2020

Dopamine overdose

I've hit the point of ecstasy this morning, beyond exuberance! My brain can't handle any more dopamine or adrenaline, or whatever is making this feeling! Between my scalping account and my swing account, I have had a huge green morning. I was jumping around trying to manage all the rocket ships I'm riding. I scaled back/locked some in, and it feels pretty obvious that I am not clearheaded to take any additional trades today. 

Market climate right now feels super hot. Morning scan shows only SPAC/meme stocks making ridiculous moves. Is this what it was like to trade in the 2000 internet bubble? Just rake in money every day? Will it burst? Gives a vibe that only retail is trading this week (preceeding Christmas). I can ride the rocket, rake in what I can, but not stick around. Get MY piece and get the heck out!

I must bring charts, but I need to calm down.

One of the things I'm noticing, in QS and TSLA, I let volatility shake me out and I missed the move I "predicted". How do I contrast that to trades where I am "right" to yank it before the target. In part, it depends on the action. Also, this is why I like to take more than 1 option, so I can scale. In TSLA I was just too scared (too big?). In QS, I was deep green so why didn't I hold?













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