First, I’m trading on sim this week and next week. But I’m trying to trade as if I was trading real money. That’s important. I wrote out my new plan and I’m testing it. I will trade it with real money on January 2 and will be posting my progress. I seem to do better when sharing my results and getting feedback from others.
Second, I did not trade well today. I reviewed my trades with another trader and my entries were rushed. My biggest weakness is being too quick. My wife tells me the same thing.
Today I was not having discipline problems but rather just not seeing it properly. Ok I think Trade 2 was partly a revenge trade but I really believed in a long there.
And I was also unlucky. I had two stop losses that were 2 ticks off the high/low of the move! That usually doesn’t happen twice like that. Could be bad luck or holiday trading who knows.
But what I wanted to share is this: Even though I traded badly, misread the market, was early, and was unlucky, I still finished positive!
Because one winner made up for the 3 losses!
This is exactly how I want to trade. Well I don’t really want to start every day with 3 losses, but I do want losses to be so small I don’t care that much and I want winners to make up for them. Instead of the other way around.
I’m quite happy with my day today because it gives me confidence that I’m on the right track with this Risk/Reward idea.