- Take GOOD losses and trust that over a number of trades you WILL come out on top
- Do not trade off 1m. Must trade off 5m. Do not justify entries based on 1m patterns.
- Be prepared to lose 50% on every options trade. 50% should be assumed base risk
- Ensure liquidity in contracts before trading
- Set Alerts for Stocks. You can’t watch all of them at once
- Do not bring emotions from prior losses into new trades.
- Do not succumb to GREED
Overview: First week of losses in over 10 weeks. After this day of loss, read TAST, solidified concept of volume further. Accumulation & distribution. Overall must realize that, as is noted, if I just take GOOD trades, I will be profitable overall, even if I have losing trades. I have the statistics to back it up. MUST eliminate 1m chart trading from repertoire.
Key Takeaways | 8.24.2021 | Tuesday
- Take GOOD losses and trust that over a number of trades you WILL come out on top
- Do not trade off 1m. Must trade off 5m. Do not justify entries based on 1m patterns.
- Be prepared to lose 50% on every options trade. 50% should be assumed base risk
- Ensure liquidity in contracts before trading
- Set Alerts for Stocks. You can’t watch all of them at once
- Do not bring emotions from prior losses into new trades.
- Do not succumb to GREED