As I wrote yesterday, one thought I had was to start the day with the mindset of being in full recovery mode. In other words, don't wait half a day until I had a loss to start scrambling, start immediately! So I tried it today.
Well, it didn't work.
As luck would have it, after being up maybe 2R or so after a few trades, I decided to go right to TZA and take it up several notches. But perhaps due to being out of sync, as well as having to deal with choppy markets, and of course having some bad luck (getting stopped out multiple times by just 1 tick, only to see the trade work well), my plan didn't work. I dug myself into another deep hole.
After hitting the losing streak, there were instances when my open positions showed that I was breakeven or even positive for the day, but a buy program would trigger and knock me out of my short positions or else reduce profits significantly, or [insert another excuse here].
Elements of revenge trading kicked in, which then led me into other poor entries, which led to more small losses, which then let me into even more desperation entries. In other words...I could see a death spiral forming. Time to blow the whistle, call time out!
Now that my portfolio is back close to the "I've blown up my account" levels, it's time to step back, regroup, and reevaluate my overall strategy once again. I can definitely see how this day could have been quite a profitable day, but there were many actions I took that didn't support that outcome.
My scheduled time off starting now is timely, so we'll see how my mind processes all of this over the next few days to figure out my next steps.