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slow day for me. as i said not feeling it too much. traded btc that was interesting nice to do somethgn different.
I would say not the easiest day to trade unless ou just bought the deep dip.
or sold the sell off in the morning but doubtful many did that.
I struggled a lot back in forth in the nasdaq and the sp500. i am currently short a russell here now and going to hold it over night but will be taking it off possibly.
have a great night. the easy days i think are over.. going to have to be at the top of your game and not get in too quickly bettter to be late than early in this type of unpredictable market ScreenHunter 20967
Can you help answer these questions from other members on NexusFi?
my russel short wa a great trade. i piked up 10 points in the micro russel so i was up about 48 bucks then i got long nq this mornign was doing well and i held right into and thru whatever happened at oh i dont know the big drop.. anyway I am still long the nasdaq had a draw down of 220 at one point now about even. looking for it to break above 900 but that is what got me in trouble this morning i was magnetized and brain said they are going to hit 900 and keep going an explosion but no .. they fooledm e they trapped me and i just watched as my gains and paper gain all turned inot bright red losses. .did i manage the trade
nope i did not manage the trade so this mad eme relaize that we need a new thread!! a vital one.
i will post some screenshots.. wisgh i had time next to my p and L i am going to see if my screen capture will allow time on it to be visible. that would do the trick then i could plot my actual P and L vs time vs the markets i am trading.
current today runnign p and l i am actually down 50 bucks because i did lock in a 50 dollar gain onmy russell short overnight however that got wiped out this morning ! ScreenHunter 20972
i wil run thru my video and take some screenshots in the correct time order!
again sitting in a shitty trade is not what day trading is about. IT IS NOT JUST THE LOSS you will probably take on the bad trade but the amount of LOST OPPORTUNITY (if you have edge) that you miss out on.. now you may think well why not trade your edge as you sit in your losing trade
good point very good point but this is exactly when your psychology acan work against you at least for me and this is when i realize i am oversized.. funny i never feel oversized until the mkt spanks me and im sitting in a sea of red and i think damn i am over sized!! ha
not a good day for me. I didnt scalp either like i normally do.. back to just scalping. this mkt is not conducive to anything else rightr now. i think i knew tid going intot today but just kept holding. algo games all day long now in the indexes.
thinking about trading another mkt outside of the indexes and bonds etc. something non financial at the same time.
mistake today.. well i did about 20 % of my normal amount of trades
didnt take small profits when i had about 15 nce profit opportunities
got greedy
was very fixated on nq 13,900
eventhough i mentioned the roll in index futs i didnt pay attention to the downward pressure at all.
got nailed early for a big loss and sat in it which i would say this probably kept me from doing much then at the end of the day the worst time..
i went much bigger than normal anticipating a reversal.
this is why you do not size up to the minis until you have EVERYTHING on cruise control..
2 steps forward 1 step back. i would say a loss like this is 2 steps back!! no good.
my best point was this morning when i close dout the russel was up 50 even
my worst on paper down 220
then my best was actually all the way back and only down 38 bucks and at one point was up 9 bucks..
then ended the day down 220 .. not consistent .ZERO LOSSES taken along with bad entrie = you give back
too much time and energy to get beat this easily. hjave a great night ScreenHunter 20974
ScreenHunter 20973
that up 8 bucks was at around 3 pm ny the last hour myu nemesis.. today is my last day tryin gto chase a big reverse in teh last hour when the reality is that is risky as hell eventhoug it looks real fun when it happens.. ultimate FOMO.. hoping for a reverse in the last hour!
THERE is ZERO ROOM FOR ERROR. just ZERO you make errors you make mistakes.. you will pay the price dearly and rapidly once they know and figure out you are trapped.
we had retail vutures buyers all afternoon and that is why they just kept pushing it lower.
I will be taking my own advice and putting together a PLAN of ACTION or a POA for taking losses it will invovle a simple set of questions that whenever in a trade and wondering what to do.. (that probably means exit) then answering a simple set of say 3 to 4 questions should have an answer which would be implemented immediately with a stop or jsut a manual exit all.
I did not do that many trades today. this wil allow me to print up a chart and place my trades on it. i will take a photo of that and post on here for anyone to critique. all commetns welcome once i post. today was not a typical day for me. i did bout 37 lots but i average usually about 70 per day
i normally scalp but today i did some stupid buy and hold crap. luckily it was a narrow range day or i could have take a big hit.
