DallasK

Daily Recap - First day back trading in over a month. Made a lot fewer trades today than I normally would have which is really good. Still dealing with a bit of fomo on some trades. I think the trading journal helped a lot today to restrict how often I make a trade and just helping me be aware of how I'm feeling throughout the day and while in trades. Just need to calm down even more and stick to my planned strategies. I also sold early on a couple good trades mostly because of others selling out when they got scared while I was still comfortable. Just need to focus on what I am doing.

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DallasK

Learning update - Haven't posted anything or traded for a few weeks. I decided I needed to go back to studying and take a deep look in my psychological and behavioural side of my trading. I found myself overtrading, forcing trades, getting FOMO all the time, and chasing alerts. Although I did have a few green days in the last stint of trading I did, those green days were not consistent and I need to find why that is happening. Ive lost about $1500 so far with losses and commissions so my profit counter on Profit.ly is not quite correct. Ive created a trading journal that I will be using for now on with the main new rule being that, I am not allowed to make another until the current one has been logged and I have entered all the info about that trade while it is still fresh. This journal is more like a data tracker on Excel but my goal with it is to see what emotional and behavioural state is like with winning and losing trades. I will be able to see what I was thinking during the trade, how I was feeling, how confident I was in the setup or how nervous and why I felt like I needed that trade. Im hoping that it will also cure my overtrading and chasing because for each trade in the journal I will have to explain why I took the trade. I think this will make me take a 3rd person view of myself taking the trade and catch myself if I'm taking a trade for the wrong reason.

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DallasK

Daily Recap - Did better today at not overtrading. Still too many trades today since there was only 1 or 2 and I was distracted by other junk. Still need to reel it in a bit and focus on trading breakouts or nothing at all. I have to get better at this or I won't have an account soon. Very very frustrating

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DallasK

Daily Recap - Yet another bad red day for my account. Overtrading, forcing trades, chasing alerts, chasing strength. A lot of fomo today as well, I'm thinking is the culprit for a lot of my stupid trades on top of revenge trading. Okay so.... now I can definitely see that all my stupid trades are trade alerts from other traders that are not clear midday trend reversals or a clear setup for a breakout. As much as I feel I need to wake up early and prepare for the day I can not trust myself to NOT TRADE when I shouldn't be... which is in the morning mostly. If I avoid being around in the morning I can remove a lot of little losses and temptation trying to catch a morning spike or dip buy. I will also really pay attention to alerts, if they are not for my 2 strategies that I am most profitable with then I will disregard them, ignore them, throw them in the garbage, forget about them, pretend I never saw them, erase them from my head. It does not matter if it looks like I'm going to miss out. 9 times out of 10 I lose on those. My focus is on my strengths. No trading tomorrow morning and no chasing. Which means I should only make 1 to 4 trades total tomorrow.

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DallasK

Daily Recap - Lots of paper cuts today. Kept all but 2 losses small. 1 I got a little stuck in a panic and the other I got distracted in the chatroom and it dropped on me. Need to focus on the good setups only and not try to force little trades here and there when there are not any good plays. I can then save myself from paper cutting my account to death. It was a pretty slow dead day anyway, I should not have made the amount of trades I did. I noticed a few good short opportunities but did not let myself take any short positions because as I would see them, my only thought was "if this short works good I can make some of my losses back" so at least I displayed some good discipline there. Over all I'm still showing signs of improvement from last week even though I had my biggest red day so far I think. Tomorrow I will make sure that I stay focused on the A+ trades and stay away from all the scalps and not so good setups. If it means that I don't make ANY trades or make any profit then thats ok. The goal is to stay away from the avoidable losses and paper cuts.

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DallasK

Daily Recap - Started off the day chasing spikes a bit from other peoples alerts. However I did find 2 myself and made money on ANY and missed on $MEDS. Was another pretty successful day for me. Most of my wins were really good wins and my losses were all controlled and small. Because of this my account grew today. Had one of my best trades on ANY with my breakout strategy. Great day

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DallasK

Daily Recap - Slow rough day for breakouts today. Most of the breakouts tried to happen too fast and at midday so lots of weak attempts. The breakouts that did happen were not very strong and WPG had a hard pull back and somehow recovered to break HOD. There was no way I could have held through the dip or even re entered after a crack like that. Fairly happy with my trading today, I kept losses to a minimum and mostly stuck to my strategy while attempting to practice reversals near low of day. Ive found that I like to buy breakouts before they happen, in the midday consolidation after they set a higher low and start to get little bursts of volume. This way I can risk the low that is still fairly close letting me take more shares for my $50 risk vs if I wait till the actual breakout level then my risk/share is much larger and I can't take as many shares as I could buying in the consolidation. Buying in the consolidation gives me a larger reward for my risk if it works and if it doesn't or gets stuffy and I feel uncomfortable I can still cut it for a single or a very small loss and wait to see if it sets up again. And if it comes down to my risk in the consolidation then I can cut it right away because after it breaks below the higher low (or lows) I've noticed they won't get the small bursts of volume and are clearly not holding well. Usually if I see this I can cut them before they even get to my risk level. I have done this and minutes later they really collapse. This seems to work well for me... so far

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DallasK

June 7&8 Recap - Been a rough and very frustrating couple of days. With Bryce in the small cap rockets chatroom now I have been having a really hard time focusing on my own trades and my strategy which is only B/O's. For some reason with Bryce being so active in the chatroom I keep chasing his trades and get FOMO all the time and get caught chasing and trading anything under the sun. I did a bit better today and I think I am going to skip trading at all tomorrow morning and wait until midday to find the stocks that are setting up for afternoon b/o's. Just need to stay calm and focus on MY OWN STRATEGY. I am seeing that I am getting some bigger profits now with my strategy because I am improving it and finding better entrys. Very cool even though sometimes I trade like a degenerate idiot. 500 burpees for me for turning back into a sheep trader the last few days.

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DallasK

Daily Recap - Been a while since I did a recap. Haven't traded much since my work schedule is during the week days right now. I have traded between night shifts here and there and on my split sometimes but I haven't been posting those trades. (Shame on me I know I should be). Had my best trade to date I think on AMC making nearly $5/share on 20 shares. Very cool! I noticed I have been improving my trading a lot lately even with out really getting to watch the market. I think between just sleeping on it, reading "The daily trading coach" and watching webinars/video lessons has really helped me calm down my emotions and help me focus on plays that I'm best at which is B/O's. I haven't gotten fomo at all really the last few weeks. Because of that I've made less trades and lost less money and making a little money overall. My IB account dipped down to about $2900 and is now at $3200 without adding funds. Its not a big change but for the first time my account has grown over a longer period of time without being so volatile. What I need to improve on next is reducing my size even more for now. When I do my risk/reward before a trade I usually see around 2 or 3to1. But after I exit with profits its always 1to1, about as much as I'm risking anyway. Im finding that any time I'm up on a position, I get scared about losing unrealized gains and exit right before it really ramps up. With my AMC trade I calculated my size based on my $50 risk, then right before I entered I decided to use about half of that. then I took even less size yet my risk ended up being about $15 with 20 shares. I think this was the key reason why I was still comfortable riding out the trade so much longer than normal. My profits were not going to be that much anyway so why not let it work and see what happens. I still made $100, its more than I probably would have made if I used my $50 risk which is crazy to me. Overall I am getting better every week. Cant wait to look back on these recaps a year or 2 from now

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DallasK

What would make my trading day a success today, even if I don't make money? I will ask myself this question everyday before market open. I think asking myself this question forces me to think about process goals and not profit goals. This brings on a very healthy mindset.

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