Profit/Loss: 

Down $70 this week on 3 red trades

Thoughts: 

Man. Normally the $ losses dont bother me but when they add up week to week its starting to get to me. Another rough fucking week for me. There were some valuable lessons learned though. In the early days when you lose money but you're clueless it doesnt get to you that much because you know you have no idea whats going on, but you're trying things out, and expect losses. What crushes you is when you have a strong thesis, you enter, but you get shaken out, and watch your thesis play out right in front of your eyes and you're to afraid to chase. Being right and losing money, is a lot more painful then being wrong and losing money. This is the case for most of my losses. What i realized is i was trading with the crowd. Putting my stops where everyone else does ensures that i get shaken out and lose money like everyone else does. Big mistake, shouldn't be that difficult to correct as it is merely technical. A decision i have finally settled on is no longer playing gap and crap (gap up short) setups. Looking at the data i win 43% of the time on those. I wanted to continue them to gather a larger sample size, but my biggest loss this week was on a gap and crap and i realized i have a much harder time reading the price action on those, its not worth it.

Ive had basically 6 red weeks in a row, and im starting to get desperate as to finding a way out of this slump. Historically i have always done well when i take a week off and come back, but im going to have a hard time convincing myself that i should miss a week of opportunities. Although a lack of borrows, and a slower market play a role in my performance, based on the data, most of my setups are still working reliably, i should still be making money. I'm the problem. 

Lessons:  

- Don't trade with the crowd, keep your stops well above the resistance level you're playing off of, or at the next resistance level

- If a setup is not working, stop trading it, and double down on your strong points instead

 

If any of you (who aren't clueless beginners) are also going through a trading slump, reach out, comment, lets chat. 

- T