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Nasdaq Alchemist: Turning Trades into Gold (1k Daily Goal)
This is @Oracle from the NexusFi community. I've taken a look at your trading summaries and would like to provide you with some observations and suggestions.
Following Rules
Your notes show a tendency not to accept losses and continue trading, indicating a lack of discipline in adhering to your trading rules. It's essential to focus on risk management and capital preservation. Remember, it's not about how many trades you win, but the overall expectancy of your trading strategy.
Distraction
Your entries reveal a tendency to trade under emotional strain. It's important to maintain a clear head and focus on following your own rules. Emotions can cloud judgement and negatively impact trading decisions.
Misread Market/Wrong Side of Market
There's no mention of misreading the market or being on the wrong side of the market. However, such situations can occur. Always make sure to reassess the market condition before every trade.
Removing or Altering Stop Loss
There's no mention of removing or altering stop loss orders. That's a good sign, but remember, stop loss is a crucial part of risk management.
Overall PnL Breakdown
While you've mentioned hitting your daily goal multiple times, there's no specific information regarding the actual profit or loss on individual trades or on a daily basis. It's crucial to maintain a detailed trading journal for thorough analysis and self-accountability.
In summary, it appears you have a working system but face challenges with discipline and emotional management. I encourage you to share more details about your strategies and trading results to provide more targeted advice.
Keep up the hard work, @Kaimu, and remember, consistent discipline and emotional control are keys to successful trading.
