Overall I like how I traded today. I left some on the table for making the right call with too-tight stops, but I know that giving too much room and turning to "hope trading" is also how I lose a lot. It's better to take the small losses and move on than to experience big losses and toxic problems.
Psychologically, I am aware that I am very affected and prone to tilt whenever I have any loss. Combine with, when I close a trade, that money is locked for the day (cash account) and I used to try to hold so I wouldn't "waste" the chance of that money. That was leading to big losses and too-often tilting. Ex: if I'm trading 0dte, I'm probably on tilt. Tight stops have a dual benefit - keep losses small (less/smaller tilt?) and also, yes, lock out that money to stop myself from going bonkers.
I often contemplate whether it's better to take a few really big positions (3?) with my allocated capital, or several small positions. Current thinking is to trade bigger, take my gains and/or losses and be done. The more times I trade the more opportunities to do something dumb and the more likely I'll end up trading after my setups are expired. Get in there, take my money, get out! Go have a nice day!
I love trading TSM. It's often a real big winner for me and today it also paid. Nice breakout above a LT level. TSM gave an initial long, which I gave no room bc AMD and NVDA tanked simultaneously and the market was very volatile off 8:30 CPI number. Took a second trade with a strong bounce which I also traded tightly.
Third TSM trade, I tried for short on this breakdown pattern that I'm often early to. Today again, early. I gave it that room and got a skinny target, but I tightened too much for the real flush. No regrets on that.
BABA daily is very extended. It didn't make new premkt highs along with the CPI number and maybe it ran out of steam. I like how I entered, but should I have given it room to bounce (see TSM above)? Probably not. Got stopped out and missed the move I wanted. No regrets here bc I was shorting a stock that has been outrageously strong over several days and was still inside yesterday's bar. Can't mess around there.
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After a ndh and ndl in the opening session, TSM (and the market) has been full bull. Not my money! I'm getting other things done now (SDS... SB... call after call...)
