TWTR Trade on Sep 28, 2020 10:19 from tjmiller2001: Tradervue User Stock Trades.

TWTR showing relative weakness and making lower highs.

I'm getting more comfortable with making more trades each day/assuming more risk/not being overly picky with setups I'll take. I won't need a perfect VWAP bounce (which doesn't happen super often) to be relaxed after taking an entry. This used to be the case. I've been trading supply and demand zones recently and I like doing this because the RR is so well defined.

Strong entry with a 4:1 RR on the first trade. Entered a put near VWAP and a spot where price rejected recently on the 1m. This kind of entry builds accounts even with a low win %, glad I'm doing this well.

Held through mild nervousness when price was close to my stop. This discipline paid off and I got out for a small profit. I've noticed that my emotions have been more controlled while price is between my stop and take profit zone. Instead of cheering price the way I want it to go (I know it can't hear me) I've accepted that my plan will either make or lose me money, and I'm just here to watch it do either.

Since I exited in an area that was recently support on the 1m, I felt comfortable getting in long in this demand zone. I had two orders ready to get filled on calls and my entry gave me a roughly 3:1 RR. I'm glad I'm able to flip a "bias" now better than I used to, this will help me take advantage of more moves.

Once my stop was broken, I didn't exit quickly. I talked to myself in my head, trying to persuade myself to stay in a little longer. I'd say things like, "These are small contracts, the loss won't be that big anyway," "Your RR is so great you can let it move a little" or "Confirm that you won't get faked out, stay a little longer."

This was me trying to be right instead of disciplined. A 3:1 RR does me no good if I won't stick to it. I got out at the lows and it quickly uptrended. That's what I deserve by trying to change my levels after I've entered the trade. I had the clarity to create a solid plan before entering. I need to have the clarity to accept loses while a trade is going against me.

Lesson Learned: Get out quick when your level is hit. A short term lack of discipline can turn to a habit. Also, this makes me a gambler not a trader. I want to be a consistenly profitable trader,and to do this, I need to take losses faster.