Still trying to mentally recover from my complete spacing out on a ton of profit yesterday. So far, today seems like a normal Friday. No major headlines. Just a few more earnings but nothing major. And the volume as of 07:30 EST is relatively normal.
On the calendar today, Nonfarm Payrolls and Unemployment Rate at 08:30 EST, and ISM Non-Manufacturing PMI at 10:00 EST.
At the Bell
Paper traded in the premarket just to satisfy my boredom, and good thing because neither trade worked out. A lot of chop leading up to the bell after 08:00 EST.
The first 10 minutes was more slightly bearish chop without a clean entry, so no plays taken. Need to remember to stay disciplined to my strategy and not let the failure of yesterday carry over into today.
Writing this in hindsight, way after the fact, because this is another day where I almost didn’t post. I had a little study/practice session of the morning session after I completely bombed the day losing $970!!! After I got my emotions back under control, wanting to destroy my office from my trading struggles of the day, I looked back at my trades and realized I made a lot of mistakes.
Basically, I made things way more complicated than it needed to be, especially on a difficult day as today. Then I capped the day off by breaking my three-strikes rule on CL, revenge trading with FOMO. As a result, I cannot take any trades (including paper trades) on CL Monday, plus a move that would be a loser to make up for the extra loss I had today.
At the end of my back trading in my platforms replay mode, I actually should have had a green day (smh). Why do I love to learn lessons the hard way? Gots-ta-do mo betta!
To end this on a positive note, it was still a green week! 🙂
Comment below with your opinions and questions.