Hello everyone! Today, like the past few have been very volatile in the index markets. We have seen huge selloffs in all the market indexes. The futures market has had huge volatility.
I want to start this journal off with a confession! On March 11th I lost big.
On the 11th, I started the trading day up +12 points! Before closing out the trading day, I decided to take one more trade on a short that was setting up. Once my trade filled my sierra charts lost connection, I found out after I tried to click a stop into the profit. I couldn’t move my stop……the uh oh moment!!!! I looked to the top corner and saw disconnected. I closed it and reopened it, by that time I was already stopped at a loss. No biggie, except, I was really frustrated and began to revenge trade!!!! Big No-No. I ended up down on the day -15.75 points.
This was a huge blow to my confidence! It made me realize that I need to focus on my discipline. Emotions…..they are natural, they are helpful and harmful to traders. It is up to us to better understand them and how they affect our trading.
uh…..really tough, I felt low, I felt angry, and I realized very quickly that it was all my fault. This means that I can control it. I can make the decisions to either help or hurt my trading account.
Now, let’s move on to today, the 12th. Today started off rough. My first 2 trades put my account down -5.75 points. I was done at this point. I said to myself, well , I will wait until tomorrow. Then, the ES began to move. It was pumping fast to the upside, so fast I could barely keep up with the price action. After a few minutes of being dumbfounded I bought into a dip, which happened very very fast. Within seconds my 20 tick target was hit. Woah!! I hit another dip, this time I removed my target stop and trailed with Loss Stop, it moved so fast I had to keep scrolling down the DOM to get my trail stop and move it back into view.
Today, I ended the session with +27 points of profit which both canceled out my loss yesterday, and added a decent profit cushion for the last trading day.