9/23 DRC

 Yesterday my trade management was terrible. Took a lot of huge losses that I should not have if I just followed my rules.

The idea of waiting and seeing if it comes back kills me. Because lately I have seen so many of my trades stop me out to the penny and then turn right back in my favor. Now this has led me into some bad habits of seeing my stop price trigger, but me waiting and seeing if it comes back. Yesterday this killed me. It just doesnt matter how many times its recently happened. I need to follow my process. 

My process allows me to cut my losers short and still get back in. Take the small hit. Im trying to save pennys and its costing me more pennys. Best trades, I dont need to worry about these things. So come time to worry, I need to follow what I know my data tells me I should do.

1. Cut losers efficiently. 

+1R stop becomes if breakeven cant hold

+2R stop becomes before breakeven

+3R stop is at +1R

At -.5R look to get out on any pb to breakeven if it doesnt improve, or out at -1R

Bottom line. Do not wait and see. Get out.

Market is up and strong into premarket still. We look to continue our pullback higher to find some value. A TL from ath to work with almost in play but main thing to see is acceptance back in range mainly above 333. Until we can do that I think the sell can still appear. 

Overall I got longs im looking at today. A few gappers/earnings/news. Decent sized watchlist today, nothing crazy though, some looking like I might not get a setup at all in them. Trying to keep only quality setups on watch, nothing iffy. 

We also have news releases 30min into the open. Need to be super patient today and only take clear strength. May not have a trade until 30min to an hour in and thats fine. All of my losses came from the 1st hour and a half. 

DDOG NIO AAXN GSX TSLA 

TSLA

Couple trades both ways. 1st short as it was at level, didnt go, made new HOD pulled into bo level and vwap, thought long, also didnt go, now made new LOD, looking for pb to bo level for short. 


DDOG

Market failed above prev hi, sold off hard, lots of names strong also turning lower, might be temporary, looking for bounced. 

SPY stalled and DDOG did too right at vwap just under prev hi, seeing it hold.

And of course right after I get in, straight to the low and we all make new los. 

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Held high during sell. Pb low vol to level + TL. 

Hit it, broke TL lower, failed bought up and in, added. SPY still ugly but internals are not following this move. Tech is strong and DDOG acting like it. 

Hidden buy came in, added big. 

Broke, crushed me. 

AAXN

Held strong all big market flush. Breaking out of triangle getting it. 

Market collapsing, another half dollar move in seconds and im stuck long. Is following but will hold for vwap + 88. .

Internals not following this move in SPY at all. We broke under vwap and level, no flush bid right back up, will add if we turn here. 

We didnt all out. 

SFIX

Strong name, slow grind all the way back to lod and HTF zone. Looking long turn here. 

Clear heavy buying bids hidden and real. In in front, didnt hold all out. 



Well another huge red day. Almost as much, but this one much faster. All longs. All in a clearly weak market. All with good tape cues. Hard. Trading is hard. Its my own fault mostly. Going to make a post about recent wins and what I NEED to see before a trade is taken. 

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