Thursday, September 8, 2011

9/8/11 Trade Results: $200 Profit, nothing but mistakes today

Today was the toughest day ever trading. The entire day, I made almost nothing but mistakes. There's a large list of things I did wrong today. I went against the system several times, tried to pick bottoms/tops, fought the trend, added to a losing position, etc. I want to really reflect on this day later on in a video or long post because today was the worst day ever. It's not that it was bad financially, its that it was bad emotionally. There was no discipline, patient, or proper analysis. I had a struggle all day, trying to tell the market what to do. My main motto is, "I'm not a bull or a bear, I'm a chameleon; I adapt to changes in market conditions". Unfortunately, I did not practice what I preach. I was a bull when the market sold off and a bear when the market rallied. I had tunnel-vision, only looking at one candle at a time. I decided to not trade the afternoon because of the issues that occurred this morning. Even though the day ended with a profit of $200, it feels like a loss because I was not applying my system 100%. It was more of a "lets take a trade and see what happens, HOPE it goes in my favor". That is completely unnaceptable if you want to succeed in this business. Here is the chart from today:

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