- Peewee Paperhands
- Exited Trades without Technical Confirmations.
- Did not have faith in Levels & analysis
- Improper Trade Style. Scalped when I should have Day Traded
- Entered Late
- Chasing Trade
Overview: On all of the trades I took, while I was right in direction & had solid entries, I did not respect my analysis on the exits, Or look to larger time horizons to solidify my resolve. This is the first day trading with the 5 min so there is some excuse for this as I adjust to the change, but the lesson here is that if there is solid strength in a trend you must let it play out and respect your levels. All three of the trades I was in continued far further than where I sold out of them, had I waited for confirmation on greater time frames & traded based on my levels, waiting until CONFIRMATIONS for EXITS, I could have reaped more from the day. Must adjust to trusting levels on larger time frames.
-Trade 1 Mistakes: Did not have faith in market condition & analysis. Should have day traded, not scalped. Traded improper time horizon. Given the strength of the dump in spy I could have held this longer, could have treated this as more of a day trade than a scalp, could have trusted the strength of the emas & held. Could have trusted that more than one level would have been taken out & held.
-Trade 2 Mistakes: Entered Late. For the plan of scalping this was well done, you could have entered a bit sooner after the break of 308 and held a bit longer through the break of 304, you were deterred because it was a big level
–Trade 3 Mistakes: Peewee paper hand fuck. I was in a good trade with a solid entry & multiple confirmations. & got shaken out. Also, chasing trade. Nervous, this is first time trading tesla, & was affected by stigma that it is mercurial & difficult to trade. Need to act faster considering I’m trading with 5m now instead of 1m. was waiting for multiple candles subconsciously I think, when with 5 min, when scalping at least, this may be risking missing the move. But yes on this trade I was in a good trade with a solid entry & multiple confirmations. & got shaken out. Did not want to risk giving back any profits from the day & shook my self out of trade unnecessarily. May have fallen victim to slippage as limit was placed under where price was, but I forgot to screen record this morning, so I can’t verify Also bit of a chase on this.
-Trade 4 Mistakes: The entry was poor, in that I was chasing the surge I saw. Should have planned for this to be a day trade earlier in the process, but considering this is the beginning of my trading with 5m and even considering more of a day trading style