Profit/Loss:
Down $12.00 on 1 red trade this week
Thoughts:
Well markets turned around hard this week. Was seeing lots of action previous couple weeks but this week just died, SPY dropped over 8% in 1 day, volume went wayward. Frustrating week for me again. I'll say it again, the $ loss means nothing, Im more concerned in my loss of mental capital. Lost my groove and my confidence and it is hard as fuck getting back in. Missing trades for me, is a lot worse than taking a loss, contrary to conventional logic. But because my win% on key setups are > 50% and my r/r is atleast 2:1 missing plays is missing profits. Realized a big mistake im making which is acting as if i only have 1 attempt at a stock, and that if i end up taking a paper cut the game is over. I'm right on my thesis so frequently but get shaken out all the time. Whats backwards about that is my probability of being right increases as i attempt to enter a stock, because if it doesnt work the first time, its very likely it will 2nd or 3rd. But as always my flaws are not in logic but in my psychological state while im trading. Since markets have taken what seems like a full 180 i need to adjust which setups ill look for, which has not been difficult to identify. Last thought is simple but brutal. Stop being a fucking pussy. Easier said than done.
Lessons:
- Always stay on your toes, markets can change quickly.
- Taking a paper cut is fine, so long as you try again when the stock finally turns in your favour, then hammer like mad.
- Stop being a god-damn pussy
- T
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