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Today the biggest problem with my trading presented itself again which is outsized losses I have to begin hard capping my stops at 20 points, otherwise I will spend the rest of the day climbing out of a hole instead of keeping my losses correlated to my winning trades
Finished the day - 21.5 points so very reasonable but when I take a loss it so far is always a large loss compared to the size of my winners
Took roughly 2 months but completed the task 30 sessions one market with defined stop loss on every trade.
The market I chose was MNQ the reason for that was simply the opportunity would be consistent for a 1-minute chart.
While I was correct in opportunity my risk per trade was skewed on mnq even the 1 minute 20 points ($40) could not consistently be my default risk on the 1-minute chart.
The biggest takeaway from my 30 sessions was even though I net made money the trading was not long term profitable with a profit factor of 1.19. 56 trades total taken.
What I love about trading is the same thing that makes it so humbling. THE NUMBERS DON'T LIE. I believe it was @HumbleTrader who pointed out that my trading profitably is dramatically skewed towards the Dow futures both MYM and YM and after completing my 30-session exercise I would tend to agree with what the data over the last 5 years had already clearly stated. I am still glad I completed this 30-session exercise and gave myself a real chance at trading the Nasdaq.
Moving forward I will focus all of my trading on Dow futures both MYM and YM. I will continue the journal and journey here as a reminder to just stay focused. There was a outage I believe for a week or two, but I am glad to see it is back up. Just doing this journal was a great exercise in forcing myself to not lie to myself about my trading competency and profitability.