Tradelog - May 8, 2023

Another bad day, just not as bad as Friday. It started off okay, but I got overzealous and then it turned into holding a trade against me. The silver lining, only in the trade, is that I accidentally traded in my sim account, because I forgot to change it this morning after conducting some practice/replays over the weekend. However, it isn't a silver lining due to how I traded. And by the way, it ended up being profitable; still bad though.

$NVDA

This was my accidental sim trade. On open, it held my $285, which was a maybe on my watchlist, but I went for it anyway. I even added. I took a partial above the 50 on the 5min chart, then it went against me. I held the whole way and since it was close my $283 level, I added. I soon realized I was breaking rules terribly and stopped myself out. Since it wicked, I went ahead and got back in, then you can see that I just scalped through the chop. I think I was revenge trading at this point, so finally got all out at VWAP.

$NVDA

This was my live trade. I realized, at some point, that my morning trade was in my sim account, so I corrected the setup. However, I calmed myself down and looked away to ensure I didn't revenge trade since I had messed up on the account setup. Eventually, I saw the possibility of a $290 short, but then looked at the 5min and saw the holding of the trend. The wick to the 20SMA on the 5min is what caused me to change my mind, then I decided I would take it long to ride the trend. Problem was that my software was lagging terribly. Also, since it wasn't really breaking $290, I went ahead and closed the position.

$AMZN

It was holding $105 and didn't look like a short off $105.50 anymore, but knew it was questionable with PDC right there. I went ahead and took a long, but ended up doubling my position, because of the lag occurring in my software. I ended up not closing out that portion of the position, took a partial at PDC, then set my stop at break-even, because I was fearful of the lag. When I got stopped out, but then realized it was holding moving averages, I got back in, then took partials at PDC, previous high, and then got all out before $106. Again, the lag was really concerning, so I figured just get out and call it a day after everything that occurred today.

Overall, not a great day, but not too terrible. Certainly some silver lining here and there, but the breaking of rules during the morning session is still a bit concerning. I really need to focus on risk management, above all else, tomorrow and moving forward. But tomorrow, my goal is explicitly risk management. Set my watchlist, stick to my watchlist, then set my stops. If I get stopped out, leave it alone, unless I am pretty confident that I only got wicked out and can try again. However, still stick to the stop if I try again.