Today I took 3 losses. It was a really bad trading day. I didn't really follow my plan on the day and took 2 unnecessary losses. The one loss of the 3 I can live with but, I have to do better. There wasn't much give from the market today.
Thanks for sharing. Post analysis of your trades is a GREAT thing to do on a regular basis. Almost all successful traders we have seen perform some kind of "post match" review of how their trades went.
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JoeRodTrades
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@TradingView thank you for the kind words and amazing sentiment. These will continue to get better as will my bad days.
zAngus
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Happens to all of us. Thanks for the recap. Always interesting ...
Thanks for sharing. This kind of action happens to me all the time. I've lost 10 trades in a row before where my entry was the peak (when i bought calls) and trough (when i bought puts) - in 3 cases, i picked the tops/bottoms to the tick. That frustrates me to death. Stop-losses are important - but they also create even more frustration when your trade ultimately goes your way. This is the life of a trader. Lots of little losses and hopefully a few big winners that run. I've had weeks where I lose 7 out of 10 trades and still break even. Risk management is key.
DUNNDADA8
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OK listen to me. You have too much crap on your screen. You really do not need all of that. All you need is maybe a EMA 21 and PA price action. Thats all. You have to learn to read what is happening and where price is going. Set up Key levels, Draw trend lines and maybe some patterns (not all of them, only the high probability ones). You will then be more aware of when to take a trade and when to get out.
JoeRodTrades
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@DUNNDADA8, I only have one more thing than you describe, Keltner Channels. Other than that I am mainly doing what you are referring to. I do agree that PA reading needs to be better. I am working on more refreshing some things this weekend.
TraderJoe_11
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@JoeRodTrades They should see my charts. Yours looks clean to me. 😅
JoeRodTrades
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@TraderJoe_11 bro I’ve seen people draw all sort of lines in every direction. I’m like how do you even know what they mean anymore. My screen literally has 2 indicators on it. lol
vfeliuaki
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It's important to reflect on what went wrong and learn from your mistakes. Maybe take some time to review your trading plan and make any necessary adjustments. Remember that losses are a natural part of trading, and staying disciplined and focused is key to long-term success. Keep pushing forward and stay positive – tomorrow is a new day with new opportunities.
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