Sticking To Your Plan Can Be PAINFUL - Daytrading RECAP 04/16/20
Hi traders,
Today's session brought me a great chance to test my ability to stick to my plan even though my setups weren't working out and I saw other opportunities.
Do you have your trading plan printed out?
Three trades today:
1) NYSE:HTZ - SHORT @4.98, turned some 7 cents shy of my PT, but having learned my lesson in OXY yesterday I closed in minor profit. +0.4%
2)
GT
- SHORT @6.74, started running up when SPY reversed to the upside. -1%
3)
AMAT
- SHORT @50.98, initally a LONG idea, formed a nice breakdown setup but didn't go as far as I needed. -1%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the description.*
Total PnL for the day: -1.6%
Total PnL for the week: -2.93%
Good trades,
Tom | FINEIGHT
Today's session brought me a great chance to test my ability to stick to my plan even though my setups weren't working out and I saw other opportunities.
Do you have your trading plan printed out?
Three trades today:
1) NYSE:HTZ - SHORT @4.98, turned some 7 cents shy of my PT, but having learned my lesson in OXY yesterday I closed in minor profit. +0.4%
2)
GT
- SHORT @6.74, started running up when SPY reversed to the upside. -1% 3)
AMAT
- SHORT @50.98, initally a LONG idea, formed a nice breakdown setup but didn't go as far as I needed. -1% *In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the description.*
Total PnL for the day: -1.6%
Total PnL for the week: -2.93%
Good trades,
Tom | FINEIGHT