Smoked

No good way to put this. I got smoked.

I do not think the trades I made were bad. I have not looked back at them. I am looking for the best way to replay my trades and see where I went wrong. But, at the time I thought these were good trades. I was not entering just to enter. I saw breakouts at levels I created. In my head, it should have worked.

One of my issues was not quitting. Last Thursday I went down $120 before rallying back to $126 and I thought that would happen again. I lost my first trade and doubled down with a $1000 contract which is a 300% gain from my usual contract size and 33% of my portfolio. I wanted to not only break even from the last trade I wanted to win. And in the end, it cost me I went down again. I made a third trade too and that lost as well.

It was a very rough day. I never believed in the psychology of trading. I thought it was overhyped. But sitting there losing on trades I genuinely think should have played out in my favor was disgusting. I was baffled I thought the market was just against me and nobody else. If I put a put it went up if I put a call it went down.

It is mid-day and I do not know if I am gonna switch strategies or even trade tomorrow. I might switch back to paper trading. Here were the simple takeaways; quit early, set up good risk-reward ratios, do not trade with half your portfolio, and do not get over-attached to a trade. After processing that the next question is does this strategy even work.

Overall: -37/100

P/L Day: -$323.30

P/L All Time: -$78.80