Another losing day. My week is done on max weekly loss. The lesson of the week is not just to trade small (always!), but that breakout entries in this market are not working.
A few of the trades this week, I could have had my target if I had a better entry. Another way of saying: It made the move I wanted, but didn't get to my target because I had a breakout entry vs a pullback entry. So what is my style? Do I take b/o entries, and this isn't my market? Do I short term adapt and say, I need to work on my pb entries? Do I not trade? Do I scale in?
How about closer/smaller targets, so I can book gains.
That's it! I like my breakout entries and I don't want to start messing around with this fundamental skill. This market isn't giving me 20%. I think I need to start taking 10% (15%?). Need to build back my account, build back my confidence. I'm "right" on all the planning. Just the market isn't giving the bigger moves, despite the big move days, the VOLATILITY is whipping me. Can I possibly study VIX and anticipate this kind of market climate?
So... tomorrow no trades... do I know myself by now? ... I'll be paper trading.
BAC got me twice, NVDA also. ugh.
