This is my second weekly recap of my trading
I didn't start trading this week until Wednesday because I was unable to trade before due to holiday stuff and being with the family. Although I just traded 2 days those were crazy days and I made kinda lot of mistakes and was way over trading on Friday
Wednesday: I was only trading in the afternoon or here in the evening, and made small loses on $OMEX thinking it could reach the high of the day and possibly breakout. Didn't happened and I got out break even or with a small loss. Didn't made much or lost much but it was a disciplined trade, I got out before it dropped and made basically nothing after commissions.
Thursday: Shorted $PTX after that I intraday crack, but covered quickly after it didn't crack more and it bounced to the 0.78s. Although disciplined day.
Friday: What a day! So many plays I was overwhelmed, was watching $SAEX at the market opening, watching it running to the 70s. Way to quick had my order in somewhere in the 52s. Didn't get executed which was very depressing but caught a little after it had slowed down a bit. I totally missed $TOPS which would have been an excellent play right out of Timothy Sykes Watchlist "I hope it can drop some more now that its bounce failed, I'd love to re-buy on a big dip, but it should be interesting to see if it can hold the key 5 former breakout level..". He nailed this play on his watchlist, as $TOPS dropped to 5.04 and then bounced 50cents immediately. Props to you Tim for nailing it! I should have watched this play, probably could have made more than on $SAEX. After $SAEX I tried on $HMNY lost a little then $SINO and $TOPS, there following Tims Alerts getting in too late on ce after the alert and then on a dip. $OCUL I though it could have b out more, got out when it didn't do anymore, which was wrong becuase it broke out later, like I thought , but hey I was on the right track, that's what counts in the first way. $SINO I though it could reach the high of day and then possibly breakout, which it didn't do, it dropped and I had to cut losses quickly. $SHIP the exact same thing, thinking it could break out more, which it didn't and I got out.
Overall this week was disciplined until Friday, I overtraded way too much, and wasn't as disciplined as the days before, although I kept my size of $100 but it gets hard to make a profit after commissions. I will trade with $150-200 next week but I have to be confortable and confident. I still have to work on my discipline, and on Fridays I have to be especially disciplined, because I always think I have to make something to have a profitable week. It have to remove that thinking, sticking to high reward high odds setups, and letting the setups come to me not forcing so much.
thank you for reading this, I probably wont trade next week so there may not be a recap. I hope you had a great week and are still studying.
see you in the chatroom
Aren't you under PDT rule? That would automatically stop you from overtrading, so it's actually a good rule for some of us I reckon
Im with Suretrader they dont have the PDT Rule. Etrade i cant get in Europe and Interactive Brokers the minimum is too big.
try only trading only a couple times a week (if that ) and not a day.
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