I had to travel around (got a new kitty for our mascot! More on that in another post.)
New rules to carry with me into the next couple weeks:
I nailed a sharp trade today but I had a couple entries I was closing for a couple bucks of loss that didn’t need to be there. Trading in bad periods is one of my bigger weaknesses, so I just have to remind myself and reward the behaviours.
I did some analysis and found most of my big gains are Tuesdays and Thursdays towards the end of the market session. I only need one good trade a month to live on my trading. I’ll try to journal things like previous session open/close, prevailing trend, macro catalyst and figure out if there are some times I can restrict trading to. I noticed humbled trader says she doesn’t trade after 11:30am – she’s in vancouver so that’s 8:30pt. I find great setups around 2:30et which is 11:30pt. Often I take a break 11:30-12:30 for lunch and look for a setup there. I can be very regimented about this to prevent over-trading as I’m likely to lose in hours before this.
Here is an example of a trade on the DOW I took today at 12noon PT. Vold breaks trend, tick goes negative, DOW drops. NVDA had news so I stayed away from NASDAQ and S&P. Making rules about additions would be good as well, I’ve been more cautious as I can wreck a trade with an addition if it’s not done skillfully. I can also enter just a little early sometimes. I’ll take some notes to focus on these refinements and keep them in view.
I’ll start with these 3, as I noticed small shots prematurely firing which these 3 rules filter out.
- Observe time restrictions – First two hours of nyse and last hour and a half.
- Don’t trade consolidation.
- Enter a little later, not on the expectation of signal, but on the clean, clear signal. Make sure there is confluence. The louder the signal, the more I’ll bet.
k-xs 
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