Must begin using VWAP as a level. Will help keep you in trades you should be in and out of trades you shouldn’t be in.
Did decently well, most of my analysis was on point, though this was a pretty clear cut market to trade. But maybe I should give myself more credit, I made money on upside & downside. I should have let some plays run for longer, GS & CVX namely. Need to implement more clear cut criteria for closing out positions for losses. Though scaling out of winning trades has been serving me well. I traded with larger size today as per my plan & was for the most part rewarded. On the later trades I traded smaller.
Have more conviction & use candle closing method for taking loses or closing out trades. GS trade main issue here, you were in awesome trade, should have had the gumption to hold longer, you didn’t want to relinquish any profits, but had you put your stop at break even it would have kept you protected to capitalize on far more.
Should have stopped trading once I reached my daily goal of $15.38. But wanted to go for more to try and give myself cushion for inevitable loss days. This logic is fine but you need to calculate what daily goal average incorporating likely losses needs to be, not just ball park your shit.
Remained calm, and truly felt it. Was willing to lose today, and was not deterred by dollar amounts as much as I was last month. Last month felt I just had to prove to myself I could be green no matter what & was literally pinching pennies to meet that end. Still, must not let this flexibility work against me. I need to stay green this month as well, though I’m willing to see moderately larger losing days.
If SPX today closes below 3800 it will officially be my first Bear Market.