So It Continues

This was an interesting one.

The day opens and I read the news. Same headlines, is the market is gonna go into a recession, or is the Q4 rally real? I had my charts up checking periodically with the intention of not trading but I could paper trading after yesterday's situation. But the chart was too pretty. Tesla dipped creating a new low and I wanted to short it and once again I just clicked the buy button. I sat there in disbelief because I knew exactly what I just did. I didn’t even get out of my position. A small part of me wanted to lose money after what I just witnessed. It is like my real brain was sitting passenger to my body’s movements. (Shorting would have worked too)

Fast forward, I see the SPY check all the boxes on the checklist, I should get in. This time I knew I still did not have an options balance. Knowing this I said hmmm let me just buy stocks because that’s the same thing right? I entered in and now I know I need a new strategy. The chart immediately hits a reversal, I get absolutely smoked and when I go to sell I am prompted with my biggest defeat my first Good Faith Violation. In fairness my buying power straight lied to me and I should not have gotten one but nonetheless, it is on the record.

The day saw a $1.57 loss. Holding these positions and praying would have put me more in the hole. Although I hesitated momentarily I can learn from not staying emotionally attached to the money. I quickly realized I was an idiot and cut my losses.

WE NEED TO GO BACK TO THE DRAWING BOARD

Overall: -9999/100

P/L Day: $-1.57

P/L All Time: $-0.62