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Starting Out Rough MES w/ Market Orders & Compromising My Risk! Pulling It Out in the End +10 Points

day trading trading recaps Jan 07, 2021

How’s it hanging folks?!  I was SO exhausted today but I was committed to trading today.  I started off tired and grouchy, so I had to REALLY work to have my mind on focus. The kids start back to school tomorrow so I am READY to get my mind back in the game!  I do have some major dental work tomorrow, so today was the day if I wanted to get things done. I had a meeting with my Life Coach, so that and some coffee gave me some life back in my mind when I got back to the house.

I’m also working with the buy/sell market buttons.  I was strictly drag and drop before but as with anything I’ve learned about life (and trading)  I have to be more flexible if I want to be able to, not only increase my knowledge but my profits as well.  What comes with this though, is learning the proper reason to move my risk.  If you’re using the market order—its going to put you in at the current price, which may compromise your risk.

So you have 2 choices at this time, you can move your risk to the proper spot (1 to 2 ticks behind the area you expect to hold) or take the risk of getting stopped out when it pulls back JUST BELOW your stop then takes off in the direction you anticipated it to go in the first place.  I chose option 2 a few time today because I just wasn’t mentally prepared to “do the right thing” BUT I was prepared to take the loss if I did it for a 3rd time in a row.

My next loss was nothing short of ego.  I watched it touch my target, not take me out and then I allowed it to come ALL the way back to my full loss and take me.. I could feel it, I was talking about it as it was happening and I just couldn’t let it go.  (In my defense, there was a LOT of noise going on in the background that really did distract me lol still though—I KNEW I was holding when I could have gotten out without a loss).

I did play comeback king and even threw on 2 extra contract at the end to bring it back around for a profitable day.  The way these price bars are moving, it really takes some skill and patience to read it, remain in the right direction and keep your head about you through it all.  I’m definitely committed to the process of making it work though my friends—that is FOR SURE!

Much love good peeps! As long as I don’t feel like total junk from the dental work—I’ll see y'all on Friday!

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