Total gross profits: $-825.00 -16.50 ES points
Total trades: 10 [1 scratch]
Accuracy: 11.1%
Execution score: 27.2%
Opportunity cost: $+625.00 +12.50 ES points
<- It should have been
about a -4.00 day
Late last week on short notice, my mother's burial was scheduled for
today due to some botched up planning by the cemetery. Unfortunately, I
couldn't fly across the country at the last minute due to my family,
which is probably something my mother would have wholeheartedly
supported. But still, it's not a good feeling to miss out on something like that. Warning flag.
Early
this morning, I saw a setup that ended up working but couldn't take it
since it was the time to get the kids ready. Of course, it worked. And
after I returned from working out and was getting my charts setup, I saw another setup or two that
worked. It was a good to know I was seeing setups that worked and was
feeling confident for a solid day, although there was a slight sense of missing out. Warning flag.
But then it appeared that a trend day up was starting as potential
signals came up to short the market. I kept saying this looks bullish, but
kept shorting. I couldn't pass them up, because they were valid signals, as well as my fear of missing
out. Internal conflicts. Warning flag.
Before you know it, I had 2 full stop losses and I said I should
quit here after being down about -4.50 ES points. They were based on valid signals per my plan, but I wasn't pleased. Warning flag.
I
entered another trade and yes, it was a short against the trend, and I
started to say shortly thereafter how it looked bullish. Around this time, my sister called distraught about my mother's burial service -- the funeral home gave us the wrong urn -- it wasn't the ashes of my mom. Ooops! Warning flag.
Fast forward to about 3:10 PM, when I exited a 2 hour
short trade with a small loss -- only 2 ticks below the high of the day. Ugh. Had I
kept my original stop, I would have been fine. Yet another warning flag.
OK...deep breath...no revenge trades, no rogue trades, no revenge trades, no rogue trades...
At
3:12 PM, I went long for the first time. And I kept scaling in and
getting stopped out. At 3:30 PM, I got a sell signal, didn't want to believe
it, and kept buying, even when the critical swing low got taken out.
After
missing the buy side all day, I must have been trying to make up for
lost profits. After I finally scaled out and went even, this one
revenge trade campaign cost me -8.25 ES points, and my opportunity cost on this single trade was a whopping +10.00 ES points. Crushing. That might just be an all time record.
So,
did the personal issues at hand help make this trading situation
worse? Perhaps. Maybe I was taking out my frustrations at the market.
But had I done well, I could also have said that I was bolstered by the
personal issues and how I rose to the occasion on yet another comeback.
But the bottom line is that this was a day where there were enough
warning flags, one after another, to either not trade at all or to just
stop early. Instead, I didn't listen to my inner voice. How many flags does it take to make me change my behavior? I must to do a
better job of self-managing myself, otherwise I will have a short
trading career.
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