TRADING JOURNAL MARCH 10TH + 6.75 points

Alright! Third entry into the trading journal. Last entry was a small loss. I get to recoup that loss plus in this entry.

Today started off pretty slow as I really had to be patient and wait for my entry. The setup occurred quite a bit today and I was able to make three trades. I took one loss of three points jumping the gun on my entry. I entered the trade with a relatively close stop loss, although the more I think about it I put the trade on too early. This is an issue, it has happened twice in the past five trading sessions. I almost immediately got stopped out for a 3 point loss. I wasn’t shaken and knew this was the trade.

I jumped back in, this time allowing room for the trade to work out. I moved my stop into the profit by one point, then manually trailed my stop with the price action. I got a little too close and was stopped out with a little over 2 points. This recouped some of the losses I made on the initial trade.

The last trade went better as I was much more prepared for this trade! As my entry target got close I waited to see my qualifiers. Once I put he trade on the price action quickly took me into the profit. I again moved my stop into the profit, this time a +1.25 stop. As the price action moved I slowly closed the gap, I got stopped with an overall profit of +6.75 points. This ended my trading day.

WHAT I NEED TO WORK ON:

Some of the losses I made today were avoidable. Many losses are not, but in this case they were. If I had waited for my qualifiers to line up more, I could have avoided that first loss. Exiting my positions a little premature. Almost all of the trades I took today, I ended up leaving about 10 points on the table because I trail stop my trades too closely! This is something I am going to have to work on in order to take less trades to make my daily goal.

Published by Eric Jobb

Hello everyone, my name is Eric and I am the founder of TheFreedomGrind. I love to trade stocks and futures, It's my passion, and I will never go back. I have taken time, money, and energy learning the market. There is no secret trick, no gimmick that will get you closer to being profitable. It will take time, money, and energy to make gains as a day trader. I created the blog and the YouTube channel to provide as much useful information about trading to anyone who has the desire to become a trader.

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