Today was a record day for me.... a record daily loss of just over $1,000. I will say that I cut my losses extremely quickly but I over traded like a total jackass and didn't wait for confirmation on the trade.

But as Tony Robbin's says "When we win we party when we lose we ponder..."

So I made several adjustments to my rules so that this literally never happens again.

Like will LITERALLY guarantee that I don't have a losing day more than -$150 again.

But here are the 4 rules I wrote down and taped to my laptop so I can see it at all times.

1. Wake up @ 6AM (West coast market opens at 6:30am)

2. Only take my first trade after 7AM-8AM. I just have never been able to handle the market open. I do much better when patterns start to form and I know what I am risking off of. For example dip buying higher lows on low floats with fresh new catalyst.

3. Only take 1 trade per day. This will be hard to control since I have a suretrader account and can get past the PDT rule but the next rule will help with me committing to 1 trade per day and that is...

4. Stop trading if day loss is -$150.

Since I know I don't actually have the discipline yet to do that I just hit up my suretrader broker and told them to lock my account and liquidate my position if my unrealized gains reach -$150 at any point during the day. 

Apparently they have the capability to set that as a daily default so no need to hit them up every morning and set it up. Instead it is now automatically built in! Talk about removing a cognitive bias.

The reason I came up with -$150 is because the average days that I win are $250-300. So I figured stopping out at half of my average winning day was a good place to start. 

No more can one day wipe out a whole week or even two weeks of losses! Whew!

This may change over the coming months but I wanted to write this blog in order to self signal to myself that I am going to be more picky about setups. Also to share this with everyone so that if you have a problem over trading you can take your undisciplined brain out of the equation and have your broker automate the work like I did cuz sometimes I'm a degenerate.