Market prep pays off

Today's goal: Focus on really good trades. Not sloppy stuff. Get in, get out, walk away.

I moved 75% of my cash out. I'm trading baby size this morning. I want to turn the ship quickly back on course and keep working on strong recovery from the June massacre.

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I did great today!! +10% on employed capital. Ba-BAM. Felt great. Remember this feeling of trading well! On days I hack around, it doesn't click like this. If it's not clicking, I need to step away... even just for a little while.

PLUG was trade of the day. JMIA for breakeven. And I followed Meir into MRNA puts which I instantly regretted (sloppy!!). As soon as I was breakeven I took off half and squeezed stop. He held it and raked it in, but I was glad to close the exposure after that first utter heart attack. Too choppy, too spready, to scary!

After this satisfying open, I decided to paper trade against fomo. What a good decision. I would have lost more and risked tilting. Must avoid tilting!

Arrogance bites

Got bitten by arrogance today. Known scenario. Win streak, big gains... think I'm invincible (arrogance!) so I go bigger. And lose. Because it's not clockwork. 

Hacked around in AAPL and COIN for close to max day loss. I wish I didn't let it go that far, but that's what max day loss is there for.

Only win was second try at COIN. 

Talking with my trading buddy about losing days:

On days when I'm up, I find it very easy to look at my picks and say, OK, what I thought would happen has played out or expired. So I'm done. 

Why do I find it more difficult to see my picks aren't working, that I've lost money trying, and to draw the conclusion: These picks were a bust, they didn't behave as I hoped. So I'm done. Maybe I need another mantra of clockwork trading to remind myself to notice and walk away from a busted day. 

Tomorrow, don't stray from success. Just stay the course of clockwork. That's why I made the mission control sign! To remember the keys to consistently profitable trading...

Small size

Tight stop is the right stop

Pay yourself first