TSLA Trade on Aug 31, 2022 09:42 from quanphan135: Tradervue User Stock Trades.

This one hurt bad, after losing few trade in the morning with new strategy with different stocks in play. I was revenge trading with TSLA, got emotion again- I also experience bad feeling with withdrawal cigarette (It's my first week to stop smoking). So, worst become even worse. I need to accept the fact that on Wednesday I was trading like a crazy guy to chasing PnL and did not TRADE WITH PLAN. Here is few things I wrote for myself.

I lost $4k today, was cried and go crazy. After calming down a bit, I am thinking about myself and why I failed that day.

1)In the morning, I was testing out new strategy and make me become crazy, why? Because I didn’t follow my trading morning plan. My plan is scalp with only one stock is TSLA – yes is boring but is consistence profitable. Please look at past week and days. I been always profitable with TSLA –

2)After failed multiple set up and lost $300 - $500 – is hit my set limited, I was angry and DOES NOT FOLLOW THE PLAN – I trade again to make it break even (which I should not do it), what I need is to stop for the damn day and come back tomorrow. My max stop loss it $150 and I need to follow it.

3)Revenge trading is another lesson I learn, the feeling is suck and crazy suck that made me become a crazy person trading that time. I need to always to talk with myself in the future, its fine, you are doing ok. STOP chasing PROFIT OR/AND LOSS, stop trading after hit max loss and just moving on, find something else to do such as watch your trading video record, write journal and improve your mistake and skill and BE BETTER TOMORROW. And deep down, you know that you always had fun do it SO DO IT EVERYDAY

4)This also need to be point out, TRADING ARE VERY DIFFICULT AND 99% ITS TO DEAL WITH PSYCOLOGY GAME AND MIND/BRAIN – I NEED TO UNDERSTAND THIS ONE BETTER EVERYDAY MOVING FORWARD. – Always remind me about trading fundamental – TRADING ARE VERY DIFFICULT AND 99% IS PSYCHOLOGY GAME

5)ALWAYS TRADING WITH YOUR BEST SETUP IF YOU TRADE REAL MONEY – TSLA & SCAPLP FOR NEXT WEEK. DO WHAT WORK FOR YOU AND STOP WHEN YOU NEED TO STOP

6)JUST TRADE IN FIRST HOUR FOR A DAY– and STOP WHATEVER PNL, GAIN OR LOSS. FIND SOMETHING ELSE TO AFTER TRADE. TRADE ARE NOT EVERYTHING, FOCUS ONTO IMPROVE YOUR HEALTH, BODY AND BRAIN. THAT” S WHY YOU QUIT YOUR JOB IN THE FIRST PLACE. YOU WANT TO BECOME FREEDOM AND DO WHATEVER YOU WANT. TRADE IS A PART OF YOUR HOBBY BUT ITS NOT EVERYTHING WITH YOUR LIFE. BE FRIEND WITH TRADING, DON’T BE SLAVE OF TRADING. MARKET GO CRAZY AFTER EVEN 1 HOUR ITS OPENED. SO BE SMART AND DON” T TRADE.

7)MARKET IS ALWAYS OPEN. IF YOU FEEL SAD, DESPRESSED AND TIRED, STOP TRADING PLEASE. IT’S DIFFICULT JOBS, YOU NEED A STRONG BODY AND MINDSET TO HANDLE IT. IF YOU ARE TRADING WITH POOR MINDSET, 10000% YOU WILL JUST LOSS AND MAKE IT EVEN WORSE AND HATE YOURSELF MORE. AND YOU KNOW YOU DON”T BE THROUGH IT AGAIN, SO HATE IT!

8)BE HONEST AND TRUEFUTH ABOUT YOURSELF ALL THE TIME! – FOLLOW THE PLAN THAT YOU MADE. DON’T BE STUPID, BE SMART AND SMARTER!

9)IF YOU ARE FEELING HURT ABOUT TRADING AND MONEY. READ NUMBER 7. MARKET IS ALWAYS OPEN. JUST TAKE REST. WARRIOR NEED REST

10)THE PROBLEM IS NOT MONEY. LOSING MONEY IS STILL FUCKING CRAZY SUCK. I KNOW, BUT REMEMBER WHY YOU KEEP WORKING HARD, LEARNING NEW THING AND TESTING OUT NEW STRATEGY WHY? – BECAUSE YOU WANT TO BE BETTER AS WELL, YOU WANT TO BE A PROFESSIONAL CONSISTANCELY PROFITABLE TRADER. BUT YOU KEEP LEARNING AND PRACTING WITH REAL MONEY. GOOD INTENTION BUT NOT PART OF THE PLAN. GO PAPER TRADE IF YOU WANT TO PRACTICE YOUR NEW STRATEGY. LEARNING AND PRACETICING IS GOOD AND KEEP DOING THAT.

11)ALWAYS READ THIS AND GET CONFIDENT AGAIN BEFORE TRADE. YOU ARE SMART AND YOU CAN DO IT.

12)ALL PEOPLE YOU SEE AND LEARN, THOSE ARE 6 to 10 YEARS TRADERS-ACCEPT IT. IT’S A LONG SHOT.

13)ALWAYS TAKING TO YOURSELF ABOUT TRADING - BEFORE AND AFTER TRADE.

14)MARKET AND TRADING ARE FREEDOM AND YOUR CREATIVITY WILL NOT MAKE YOUJ MONEY FOR 1000% IF IT NOT TEST OUT AND CONSISTANCE PROFITABLE SETUP YET BEFORE DEALING WITH REAL MONEY. MARKET IS CRAZY, SO GO PAPER TRADE FOR REAL IF YOU WANT TO TEST YOUR CREATIVITY WITH THIS FREEDOM AND FREEWILL MARKET.

15)YOU CAN ALWAYS WORK WITH YOUR OLD AND BORING TSLA SCAPLT SETUP MAKE $100 A DAY AND SWITCH TO PAPER TRADE AND HAVE FUN WITH YOUR NEW STRATEGY. EVEN IF YOU DON”T MAKE ANY AND LOSS. STOP TRADING IF YOU DON’T WANT TO TRADE ANYMORE, NO NEED TO ANGRY AND LOST YOURSELF. THIS IS A NATURE OF THE J OB, IT AND PSYCHOLOGY GAME - ALWAYS READ AND REMEMBER THIS.

16)I trade price action to make positive cash flow, I’m intraday trader - I’m not investor ... I LONG AND I SHORT for same day and short period of time whatever setup and price action/pattern, that can make me money in a short duration, I will jump it and do it! Please understand my trading fundamental. It's very important. IF IT NOT WORK, MEANING IT NOT WORK – AGAIN, DON’T GO CRAZY AND DO STUPID THING. BE POSITIVE WHEN I TRADE – AND STOP TRADE WHEN IT GET NEGATIVE. = IT”S A PSYCHOLOGY GAME – TRADING ARE VERY DIFFICULT.BUT IT GET EASY IF YOU ALWAYS TALK TO YOURSELF ABOUT THE RIGHT THING TO DO!

17)Always REVIEW YOUR TRADING, MAKE SURE YOU KNOW WHY YOU MAKE MONEY OR EVEN LOSS. BECAUSE ITS HELP YOU TO RELIAZE IS WORK OR NOT WORK, WHAT TO IMPROVE.

18)YOU CAN ALWAYS BE LUCKY TO MAKE MONEY – BUT ITS BAD, YOU CAN BE LUCKY TO MAKE $100 or $1000 BUT YOU CAN LOSS IT ALL AND EVEN WORST IF YOU DON” T KNOW WHAT ARE YOU DOING. AND THAT FOR 100% SURE.

TSLA after failed to stocks in play journal:

I was taking a emotional hit at 2 stock in play in the morning was failed. Immediately jump over TSLA.

1) After seeing a massive plump at market opened during 10m, from 281 to 275.50 key support and slowly recover back to 277.19 it's resistance. I saw stock recovered but having hard time to stay at 277 huge seller from the tape. I was trying and get filled for a SHORT position at its resistance $277 - $276-ish~ and wait for another plump to take gain. After few second watching the tape, keep see buyer pulling back and agree to buying $277 small range (resistance level). I SOLD my SHORT POSITION AT BREAK EVEN PRICE. NICE JOB I THINK. Stock end up broke that resistance and stay in the level. The contract I was BOUGHT AND SOLD (4 contracts) at $11.50 now its $10.85, that's $260 save from the tape and rip. VERY GOOD ACTION TO DO AND I SHOULD KEEP DOING THAT!

2) Stock recovery retest and above vwap 278.07, staying there at 278.80 but having a massive seller at 278.50~ and weak buyer, I decided to scalp a SHOPRT POSTION at 278.60 for 9.85/4 contract and sold it at $10.15 when stock plummet and retest vwap 278.20 (nice job)

3) After the 2nd trade was a good job and setup. I see stock up trend, trading above vwap, near at resistance 279.20. I buying a put at 279.20 resistance (while the stock are in strong buying trend), ofc this is a very bad setup, even I understand that I SHORT at the resistance, play by the book. BUT I SHOULD NOT SHORT THE STOCK WHEN IS A STRONG BUY/UP TREND. So, this is not a profitable setup, and I did sell it (hid the bid). Buy at 9.55 and sell at 9.20. that $35 loss per contract x4. Ouch that pretty hurt for a bad setup. I should later improve and patient when enter trade next time.

4) After 2m, stocks was successfully above swap (recovered from a massive sell off 15m ago), broke it resistance 279.30 and trading at 280.20, I switch to LONG position, but not sure what happening, I bought those LONG contract at 280.20 and next the resistance is 280.60. This was a FOMO trade and downside huge risk! If I were go LONG, I should buy it at support 279.50. It's a very bad trade and of course, 100% this turn a loosing trade as well. Result: -$75 per contract x4

Will not journal more after those trading. All it was revenged trading, chasing PnL. My original plan was scalp option with few trade and more size. End Up doesnt trade based on the plan so even if I wrote all those 16 page trade, is a terrible mind/setup and trade.