Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Buyer's took control. Looking for leg 2 up to complete at 50.91 which it did to the tick. Now on leg 2 down. Haven't been able to get in yet. Here is the picture I took before it reached the measured move up.
I elected to sleep in a little this morning and was all ready for the Emini open at 9:30 EST. I was all set to enter a trade after passing on 2 nice setups when my Internet connection went down and stayed down for longer than I am comfortable with. At this point I decided NOT to trade my LTP account today. Also contributing to this decision was the lower total volume on CL for the day at that point. I have just been watching the price action today and paper trading (not even sim trading).
Sick - Little sleep - Before doing any part of my morning prep I glanced at the charts and tried to catch a bottom. Why? I don't know! So stupid! I did it last week too. Before I knew it I was about $850 down. Finally, I stopped trading and took a break but even after returning I was never in sync with the market. The two best setups that I saw missed getting filled by 1 tick.
My real problem today was that I kept trying to trade what I thought should happen instead of what the market was saying would happen. At one point, I almost got back to break even and then ended up about $1,000 down. By the end of the trading day I did manage to micro scalp my way back to plus territory but with commissions I figure I am about $100 down. I will post my trade report later.
What did I learn?
I need a good night's sleep
I don't trade well when I am sick - I am just not mentally there
Absolutely, MUST do my morning routine before ever even thinking about entering any trades
Overtrading is mentally exhausting
Unfortunately, I already knew all those things or at least I thought that I did. If I really knew them I wouldn't be committing the same mistakes again. I need to do some self-examination and apply some strict discipline to my trading.