Accountability and Journal - Day 3
Started a Topstep combine just to start live trading again. I decided to not let perfect be the enemy of good and just trade by what I already know. I finished the day up 5R with one winning 6R trade and another loser. Decisions were all based on basic technical analysis. I posted some screenshots of the trades with some commentary.
The good:
- Winning trade was a combination of multiple timeframes. Using what would play out on the 4hr chart and executing on the 1 hour.
- Limit orders instead of chasing price for winner.
- Exit within my own personal MFE for over 100 points NQ.
- Cut the day short when I felt frazzled and practiced good risk management.
The bad:
- Didn't wait for any confirmation or good setup on the short, and essentially FOMO'd into a poor entry for my strategy.
- Burnt out fast psychologically and got frazzled after my loss, despite the idea being correct.
- I noticed it was hard for me to sit through watching the market move. I want to build my tolerance and capacity for the mental friction that trading causes me. Being too relaxed would cause me to do stupid things and being too zoned in would make me tired quickly.
Overall:
Happy to finish green on my first day. I would like to build more patience in my trading. I was really motivated by Briton's comment about it being most important knowing where to trade and where not and capital preservation. I don't want to lose more than 2R on the day.
Other than that, didn't do any trading work today besides this review.
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Accountability and Journal - Day 3
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