Committed To Better Day Trading Win Or Lose


Today was a good day! As I typed this, my position was down 10pts, my execution was as planned. I'm claiming today as a good day win or lose because I am very confident that I will be executing my trading plan/method as intended (always room for improvement). I will not and can not blame the market if the CL trade does not work, or anyone else, I accept the fact that the best trades that meet all the criteria will not be profitable 100% of the time, or even 50% depending on the market conditions.

An excerpt from my introspective journaling
"Take pride in the execution.
Take pride in my resolve.
My self-worth and value are not based on if this trade works or fails.
Committed to zero whipsaw trades
."
Iran Iranian elections are taking place today, could this be impacting the market today, maybe today was a day better not traded? If the trade works, would I still have all these same questions or would I just sit on my high horse and marvel at my technical analysis skills? 


Notice all the words of negativity, it takes a resilient effort to think and speak from a positive and factual frame of reference when facing adversity.

Doubt:
maybe today was a day better not traded because of the Iranian elections?

Facts:
Trade was based on my trading method that governs my entry, ATM strategy automatically executes predetermined stop loss, time frames, and area of congestion identified before trade execution. My decision to trade wasn't based on Iranian elections. I reviewed the economic calendar for potentially market-moving news.
_________________________________________________________________________________

Better Trading Ahead!
During and after each trade I am taking notes and jotting down ideas about how I can improve my trading, rather it be in my trade preparation, or in how I manage my screens and trade executions.

Benjamin Mays"The tragedy of life is often not in our failure, but rather in our complacency; not in our doing too much, but rather in our doing too little; not in our living above our ability, but rather in our living below our capacities."
- Benjamin Mays





Instrument: CL Jul'17Lot Size: 1

Total # of trades: 1
Percent Profitable: 0%
Avg. Winning Trade: $0
Avg. Losing Trade: $159
# of winning trades: 0
# of losing trades: 1
# of even trades: 0
P&L Total: -$159

CL 5/19/17

Comments

  1. great excerpt from your journal! i kinda had a feeling that today was gonna be slow. i even wondered why i took trades in the first place as well. but good on you that you didn't lose big. it makes looking forward to Monday all the more easier and you'll definitely kick butt

    ReplyDelete
  2. Thanks Rhiese for the comment, no regrets, plan on adding another wrinkle to my discretionary trading. If in a position for over an hr and the market has not broken out before NYC lunch hr, I will be looking to minimize the loss or take what ever profit I can get quickly. Thanks again for commenting. Looking forward to next week!

    ReplyDelete

Post a Comment

"Better Trading Ahead!"

Popular Posts