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Todays trading I got caught up over trading which, of course created alot of small losses that added up at the end of the session. I realized I want to at least take 10 Minutes in between trades win or Lose
positives:
1. Respected my stop losses
2. Only traded Nasdaq
3. Traded the mini without anxiety or hesitation
Improvements:
1. Took scalp profits and full stop outs/ recipe for disaster.
2. Overtraded in and out the same price level, (refusing to be wrong) one of my big weak spots as a trader
3.Being more alert and focused during trading day
Key statistics from the day:
Total Profit/Loss: -154 Ticks
Profit factor: 0.32
Total Trades: 8
Winning Trades:3
Losing Trades: 5
Average Winner: 24 Ticks
Average Loser: -45 Ticks
Largest Loser:-62 Ticks
Largest Winner: 50 Ticks
Average MAE: 33 Ticks
Average MFE: 21 Ticks
Red Day overall but do have some positives to build off of for the week, Going to but 10 Minute boxes on my chart also so I slow down a bit. 2023_10_02 (12_44_50 AM)
Today was a very sloppy day on my part. Overtrading by looking at the 1 Minute chart and also taking profits fast but losses slow, that just does not work. Learned a lot about my mentality and what I am doing incorrectly.
My biggest weakness is defiantly needing to be right more than needing to make disciplined trades. I will make that change moving forward.
positives:
1. No large losses/ although irresponsibly added to a trade to just size up and get out as soon as I was at breakeven.
2. Stuck to the Nasdaq
3. Accepted that I need to slow my trading down.
Improvements:
1. Not holding winning trades long enough
2. Losses larger than winners
3. Making too many decisions throughout the trading day
Key statistics from the day:
Total Profit/Loss: +104 Ticks
Profit factor: 1.16
Total Trades: 24
Winning Trades:18
Losing Trades: 6
Average Winner: 18 Ticks
Average Loser: 35 Ticks
Largest Loser:80 Ticks
Largest Winner: 50 Ticks
Average MAE: 30 Ticks
Average MFE: 22 Ticks
Red Day overall but do have some positives to build off of for the week
Today was a green day so overall a positive, as I stay level headed after a early large loss. I also realized why I trade the 1 minute and not the 5 minute, the risk per-trade is much greater. I am learning to do work on myself, not change my market approach or markets I trade, every time I have a negative day.
positives:
1. Did not go on tilt after large loss
2. Only traded Nasdaq
3. Allowed trade to playout.
Improvements:
1. Don't change trading approach or style after red days.
2. Accept the positives and Negatives of my trading style.
3.Have more focused screen time.
Key statistics from the day:
Total Profit/Loss: +61 Ticks
Profit factor: 1.44
Total Trades: 2
Winning Trades:1
Losing Trades: 1
Average Winner: 200 Ticks
Average Loser: 139 Ticks
Largest Loser:139 Ticks
Largest Winner: 200 Ticks
Average MAE: 89 Ticks
Average MFE: 120 Ticks
Green Day overall, but really got a glimpse at some of the negative trader traits I have and how I can improve them. 2023_10_04 (11_15_52 AM)
Positive day overall, although boredom trades are still a thing for me.
positives:
1. Smaller losses
2. Only traded Nasdaq
3. Took trades with out hesitation.
Improvements:
1. Added to a loser
2. Took a boredom trade
3.Fatigue got the best of me
Key statistics from the day:
Total Profit/Loss: +83 Ticks
Profit factor: 3.02
Total Trades: 7
Winning Trades:5
Losing Trades: 2
Average Winner: 25 Ticks
Average Loser: 21 Ticks
Largest Loser:21 Ticks
Largest Winner: 47 Ticks
Average MAE: 33 Ticks
Average MFE: 22 Ticks
Red Day overall but do have some positives to build off of for the week 2023_10_05 (9_48_18 AM)
Green Day today I have been able to define my R which is 20 Ticks, and I utilizing the Tick index to refine entries which is helpful, I am giving losing trades less room to breath, and working on being more mechanical with my trading.
positives:
1. Risk is staying well with in my 40 ticks per trade
2. Did not overtrade
3. No FOMO
Improvements:
1. Got to get to bed earlier so I can be alert for first two hours
2. Hold winners longer
3.Trust the system
Key statistics from the day:
Total Profit/Loss: +106 ticks
Profit factor:99.00
Total Trades: 4
Winning Trades:3
Losing Trades: 0 Breakeven Trades: 1
Average Winner: 35 Ticks
Average Loser: 0 Ticks
Largest Loser:0 Ticks
Largest Winner: 46 Ticks
Average MAE: 4 Ticks
Average MFE: 41 Ticks
This was one of my better days trading, clearly defining my risk limit on every trade and sticking to it, has greatly improved my ability to synthesize information. I look at the market in R instead of in dollars.
I have annotated my chart with extreme tick readings. _ 2023_10_09 (10_04_20 AM)
Todays trading was a overall positive, I am sticking to my strict risk limits R=20 Ticks, and I really beginning to take trades without hesitation, or the need to be right. The next hurdle to jump over is holding my winners longer. So winners average at least twice the size of my loses. Getting a couple hours of sim trading in everyday should drastically help with that.
positives:
1. Taking small losses is becoming a habit
2. Continue to master the short-term Nasdaq price action
3. Got a couple of 2R trades today
Improvements:
1. Hold winners longer especially once stop is moved to break-even
2. Trust the tick index as a oscillating trigger.
3.Wake up early so I do not need to rush(don't trade first 30 minutes)
Key statistics from the day:
Total Profit/Loss: +90 Ticks
Profit factor: 2.67
Total Trades: 7
Winning Trades:5
Losing Trades: 2
Average Winner: 29 Ticks
Average Loser: -27 Ticks
Largest Loser:-34 Ticks
Largest Winner: 45 Ticks
Average MAE: 15 Ticks
Average MFE: 26 Ticks
This weeks trading was overall a very positive experience, I feel like I had a lightbulb moment incorporating the Tick index into my Nasdaq scalping strategy, it allows me to operate at the extremes of moves to either jump on the overall trend or trade counter-trend. With my hyper short time frame it proved to really suit my trading style quite well. I will be back-testing it all weekend obviously to see where the wholes are in the strategy, but utilizing my 10 second time frame it does create some very high probability trades, and also gives me confidence to take trades which, has been a huge trading demon of mine.
positives:
1. Cultivated a more intuitive feel about price action and price zones
2. Accepted my way of trading, and how to improve that
3. Analyze my trading statistics to factually see what I am I doing
Improvements:
1. Still need to capture the Big winner/ which can only happen by holding longer
2. Get a better understanding of cumulative Delta
3.Make sure I am journaling daily (missed two days this week)
TRADING WEEK STATS 10/9-10/13
Total Profit/Loss: +648 Ticks
Profit factor: 2.61
Max Drawdown: -83 Ticks
Sharpe Ratio: 1.89
Sortino Ratio:1.00
Total Trades: 61
Percent Profitable:54.10%
Winning Trades:33
Losing Trades: 24 Breakeven: 4
Average Winner: 32 Ticks
Average Loser: -17 Ticks
Largest Loser:-34 Ticks
Largest Winner: 61 Ticks
Average MAE: 16 Ticks
Average MFE: 27 Ticks
Average ETD: 16 Ticks
