Shared by
ricky_trades
ok so today was the fomc meeting big anticipation.
i can see historically i dont well on these days.
however i did see where i went wrong.
again i got in at the bottom.
4310 had alot of buyers.
patty in the chat had pointed that out.
i just cant seem to get in when the move is initially happening
and want to get in but when i do the move is already done.
i am exhausted i may take the rest of the week off as i am not sure if i will continue trading live money for now.
reviewing my month i was able to take 17 winning trades and 6 losses but still in the red.
the problem i mainly have is executing due to hesitation and also cutting my losses fast instead of hoping for the trade to work out.
i am very upset and frustrated at this point.
i do want trading to work but i am not sure if i can make it.
i need to re-assess and work on my bad habits.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-01-26 15:09:51 | 26 JAN 22 4275 PUT | buy | $5.700 | long |
| 2022-01-26 15:47:02 | 26 JAN 22 4275 PUT | sell | $0.0500 | 0 |
Comments
ricky_trades
Thank you for this comment @lombardo1412014 yes it makes sense. I literally need to flip what im doing i have a better chance of higher probability play and better risk to reward for reject or bounce areas. Thank you much for this
lombardo1412014
You welcome.
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A lot of times we traders fall into the trap of following market sentiment. Just because the market is up we buy and just because is down we sell. Stop buying break outs or selling break downs. Buy break downs and sell rips off major support and resistance levels from the hourly and daily time frames. Study up on mean revision strategies. The market ranges 80% of the time thats where your focus should be not trend trading like everybody else. Just do the opposite of what you have been doing and I guarantee you will see success. Good luck.