Accountability and Journal - Day 5
Finished the day up +6R (1W/1L/3BE). I am proud of myself today. Besides some execution issues and moving to BE twice prematurely (though one with a good reason), I stayed focused on capital preservation and trade location above all else, and was better at handling the psychological discomfort I get from trading. Not only that, but for the first time, I was looking forward to trade rather than dreading it. My confidence is up and I know that it's built on the right foundations of rigor, best practice and constant improvement vs what I did with my PnL. This is a big milestone for me, finishing the week green, after a long time away from the markets. I want to thank Britton for all the help and support. It motivates me a ton to show up and grow each day.
The good:
- Strong technical analysis and level picking
- Was even more patient than yesterday
- Psychology was good. I made peace with each decision and with the possibility of being wrong and losing each trade I took. I was ok with missing profitable moves, and prioritized better trade opportunities that I was comfortable with rather than pure PnL gains.
- Better composure and stamina today. Almost traded the entire hour.
- Good profit taking based on my own personal MFE.
The bad:
- Moving to breakeven too early. A previous mentor would do this a lot, and it made sense for his trading style but not mine. I try to take positions around the edges, and so a loss would be an invalidation of my idea almost completely. Also, since my r/r is high, if the trade works out, I get in at a great price to hold longer term.
- I was a bit slow on execution today, and got lucky with my winner. I wasn't as confident to pick a level before seeing it hold.
Overall:
I am internalizing more and more measuring success based on the quality of my decisions over PnL. I feel good knowing no matter if I am right on the trade, I could still be successful by managing my risk both in the day and in trade location. Also, I feel great knowing that I actually DO have an edge and I can trust my analysis and intuition.
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Accountability and Journal - Day 5
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