Monthly Goals
- Only place trades directly trading off of emotions
- Process, Discipline, Patience & Pre Plan!
Trade Report
The overall idea of this trade IMO was there. I'd definitely take the trade again in the future but I need to be a little pickier.
The idea for this trade was, the stock had some meat and a ton of overhead resistance (chart-wise not volume) It was opening up near the 50% area as well as the neckline and was going to be a super side chick, if it slams off the open I can totally join trend on it.
This was a great idea and way to look for scenarios to make a profit where other people may be failing to look. The one thing that really voided this trade was the lack of volume AKA long participants.
This trade proved to us today that the one thing that CAN and WILL void any perfect chart or fundamental idea of a stock is a lack of emotion to trade off of.
Moving forward it is critical to make sure we will have emotions to trade off of. No matter how good the setup if the answer to that Q is no, we can't take it.
Areas to Improve
The main focus needs to be to make sure there will be emotions to trade off of. THIS NEEDS TO BE PRITOIZED.
Steve Spencer Benchmark
Took a loss
Pre Market Watch List
Chart
Daily Psych Journal
Playbook Entry
Live Trade Recording
Video Trade Review
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-01-07 09:33:36 | XERS | sell | $6.530 | short |
2020-01-07 09:34:27 | XERS | sell | $6.580 | short |
2020-01-07 09:34:27 | XERS | sell | $6.580 | short |
2020-01-07 09:34:28 | XERS | buy | $6.700 | 0 |
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