2010-04-27

Picture says it all. Bad pick. Resulted in big losses. Stop loss not honored in "hope". Got in for "fear". All bad traits resulted in one big loss that three small winners could not bring it back.

Day Result	Negative -140 (-135 before commissions)
Stats	3W 1L (75%); LWin: 25, LLoser -180	What a day!!! even with 75% win rate, I am down big time.
Mood	Great. until loss started getting big.	stunned at the results, "hoping" that the thing will budge, but it kept on going up.
Stress level	1 hour of trading, but stress level high because of big loss	Screen desktop has been organized, so that all information is at one glance and fewer mouse clicks. Few cognitive loads. No distractions.
The Good	Continued to get good opportunities with FNG strategy. Bad pick was my fault.	Goal: Keep working on this strategy until May 15
The Bad	Did not scalp today. Average hold time was 20 minutes. But it was only in hope to get rid of the loser.	Goal: Identify candle patterns at the end of 5 min bar to decide whether to stay or leave trade.
The Ugly	Picture says it all. I am disgusted.	Goal: Think about staying with winners longer. How? Add psychology row in this sheet to monitor, how I am working on this daily.

A Brief Trading Self-Assessment
* How many of your trades today (or this week) had an explicitly defined risk and reward?	2 out of 4.
* How many of your trades today (or this week) did you execute according to the defined risk and reward?	2 out of 4.
* How many of your trades today (or this week) were based upon clear market patterns and a clear identification of how the market was trading?	All
* How many of your trades today (or this week) were placed out of fear of missing a move? Out of frustration following a loss? Out of boredom in a slow market?	1.
* How many of your trades today (or this week) would you place again if you had the same circumstances?	3 out of 4.
* How many of your trades today (or this week) came from advance planning and preparation?	All
* How many of your trades today (or this week) were sized properly, given your level of confidence in your ideas and your desired risk management?	Currently on small size. Will stay on this until reach a defined profit targets.
* What did you learn today (or this week), and how will you put that learning to work tomorrow (or next week)?	Identified high risk play and how to avoid it.
* How did you feel about your trading at the end of the day (or week)? Proud? Disgusted? Regretful? Satisfied?	Sad.
* What can you do tomorrow (or next week) to feel proud of and satisfied with your trading?	Never enter in high risk big gap play. Honor stop losses. Don't hope, act!!!