Weekly Review January 4/4

GTOs from Last Week:

GOALS FOR THIS WEEK:

1)  Execute modified Visualization techniques to include 3rd person +Boss/Employee visualizations.  Monitor adherence to daily routine.  This was fucked... My routine couldn't have been further off than what it was this week !!!
2)  Execute Patience/Meditation consistently, Monitor and refine as needed.  No routine/ NO MEDITATION = NO TRADE !!!
3)  Monitor execution of After Action Reports, refine as needed.  Much Better than last week, Also, focusing on only trading 1-2 times per day has made me very selective in the stock I play.
4)  Monitor adherence to daily preparation routines, refine as needed.  Horrible week.  Such a busy week.

TRADING GOALS FOR THIS WEEK:

1)  SLOW IT DOWN !! Do the prep work required and Analyzed the Support/Resistance Levels + Where's the trend at?  Really good except on Thursday when things just blew up.
2)  Trade 1 1min Playbook/GOOD TRADE in the open.  I've really hvent bothered.  I've focused mostly on 5min setups this week which was a good adjustment

3)  1 5min Playbook/GOOD TRADE after 0935.  Really good in helping me from overtrading.

4)  25$=R, 100$/day max loss for MoMo. $50=R for MeanRev.  2 Losses Max/day.  Really good rule to maintain,

Thoughts/Learning Lessons:

This week was a routine mess.  MLK monday/no trading.. Did not sleep on time, did not wake up on time, did not complete my morning routines, was physically fatigued, was hanging on mentally NOT to trade in the morning and was mentally fatigued by lunch time.  So much interruptions during the trading day.  So many distractions with my thoughts on other stuff that built up through the week.  Impatience built up on monday since it was a day off.  Traded well on Tuesday with 1 trade then left for houston.  Traded well on Wednesday with 1 trade then rushed to drive home to Mcallen.  Thursday I was just a mess.  I woke up late and MAINTAINED NOT TRADING during the morning.  Not sure what I was doing at home staring at the monitor on thursday, i wasn't at starbucks to prevent me from overtrading, I had ANOTHER interruption from my dad at lunch which got me FRUSTRATED.  I held myself from trading a good short on a pop in MBOT.  But as I was chatting in Dux's chatroom about a news play in PCG.. I started to get blinded by the amount people were making.  I gave myself a small sized position to play the halt that's squeezing people out.  It ended up opening lower--what was worse was that a trigger order for another x10 of my size went through.  Instead of stopping out-- I froze and was already trapped in trading my emotions instead of getting out.  I ended up with a revenge trade at the end of the day as well.. By friday AM, I stopped out with a -2.5k loss.

*On minimizing interruptions.  The interruptions themselves aren't the main problem.  I've had phone calls or random people knocking on the door and I don't get frustrated.  I've only gotten frustrated when I've told my parents NOT to interrupt me while I'm in front of the computer.  Since I have set that expectation--every time that they interrupt me = FRUSTRATION.. Frustration = Distraction.  This DISTRACTION is what triggers me out of focus..

Solution #1:  REALLY explain to them the gravity of not BEING INTERRUPTED during work hours.  If it's not an EMERGENCY (Loss of life/limb/serious health illness).. It can wait.  You don't interrupt a surgeon during a heart transplant to ask for a tylenol order that wasn't written down.  It can wait.... But this is not in my control whether they actually follow this or not.

Solution #2:  Move all my equipment upstairs or get an office to physically remove myself from the house so that I CANNOT be interrupted.

Solution #3:  Just release my expectations and accept that they can't follow my requested rule.  This way if they interrupt me in the future.. I really won't be affected about it and won't get frustrated and distracted like how I am right now.*** Not being in FOCUS cost me *k this week ***  How serious will I take this?  I basically lost **months salary in the philippines... it was only a 10% loss in a **k position.. What if i lost in the future 10% in a ***k position.. My Single Largest loss in a daytrade is *k that happened in 14 secs.. that's ***$/sec.. Is what your going to interrupt me worth that much for me to lose? That's how serious I NOW take my ability to focus..

Overall, not including the PCG trade.  My trajectory has been up the last 2 weeks.  Even with a platform error in BIOC last week I am 7win trades-3loss trades in the last 2 weeks and 2-1 this week.  MY SIZE was just retarded in PCG so my loss was just massive.  It's quite a big hole but AS LONG AS I FOCUS ON MY PROCESS AND TRADING WELL.. I will dig myself out of it.

Learning Lesson #1:  Make sure I am well on emotions AND PHYSICAL HEALTH.  If I am SLEEPY or JUST MESSED UP like a ZOMBIE.. I will JUST TAKE THE DAY OFF AND REVIEW...

FOCUS is MANDATORY in decision-making.. Inability to focus well due to mental distractions, interruptions, physical/mental fatigue will cost me dearly...

Last weeks Learning Lessons:

Learning Lesson #1:  4 Max ACTIVELY WATCHING STOCKS at the open.  Helps alot.  Will maintain this.

Learning Lesson #2:  Feeling rushed/improper preparation = No trading the first 5mins = GOOD RULE !! Make sure I execute proper sleeping procedures so I'm refreshed for preparation the next day.  Helps alot.  Will maintain this.

Learning Lesson #3:  AFTER TRADE PROCEDURES MUST BE DONE !!  Helps alot.  Will maintain this.

Learning Lesson #4:  Look for signs opposite of my trades--BUT either size down or Let myself get stopped out.. Only those two decisions are appropriate so I don't get scared out.  Helps alot.  Will maintain this.

Learning Lesson #5:  CHOOSE A BIAS for the OPEN BUT make sure your head is leveled when your ACTIVELY listening to the market so you don't get stuck on the WRONG SIDE of the TREND !!!  Helps alot.  Will maintain this.

Overall:  My playbook is getting more refined, my analysis skills have increased and my execution skills/habits are stronger.  My current trajectory is improving each day and each week.  I'm a little worried about my results but I tell myself that as long as my current trajectory is up.. the results will follow later.  PATIENCE... Having more patience than others will provide me the emotional edge and clear mind to base/execute decisions from..  I also have a MUCH stronger support/resistance/trend analysis than last week.  Work on HABITS, Discipline is a LAGGING INDICATOR...

GTOs for this week:

GOALS FOR THIS WEEK:
1)  No Experimentation.  PLAYBOOK TRADES ONLY !!  No Meditation = NO TRADING !!

2)  Execute modified Visualization techniques to include 3rd person +Boss/Employee visualizations.  Monitor adherence to daily routine.

3)  Execute Patience/Meditation consistently, Monitor and refine as needed.
4)  Monitor execution of After Action Reports, refine as needed.
5)  Monitor adherence to daily preparation routines, refine as needed.

TRADING GOALS FOR THIS WEEK:

1)  SLOW IT DOWN !! Do the prep work required and Analyzed the Support/Resistance Levels + Where's the trend at?  CIRCLE Breakouts/Breakdowns !!!
2)  PLAYBOOK TRADES ONLY !!  NO TRADING PAST 11AM CST unless MBOT Type-Trade
3)  Trade 1 1min Playbook/GOOD TRADE in the open.

4)  1 5min Playbook/GOOD TRADE after 0935.

5)  $50=R.  2 Losses Max/day.  Maintain my risk/size on my playbook setups.  Half size MeanRev Trades that have AT LEAST 1-2 Risk/Rewards and full size on setups that meets Dux's Short Criteria.

PREMEDITATIO MALORUM

FEAR SETTING / FEAR REHEARSAL for the week:

DEFINE ----------------------------- PREVENT ----------------------------- Repair

1)  FOMO ------------------------------Pre-Market Preparation -------- Sleep on Time to wake up on time

2)  FOMO ----------------------- Follow ONLY Playbook Trades --- There's always opportunity LATER

3)  Fear of Losing $$$$------ Bracket the orders and let SL get hit ------- Reassess if Entry was correct

WHAT ARE THE BENEFITS OF PARTIAL SUCCESS:

1) As long as I remain resilient and refine my systems--I am one step closer to CPT

2) If I wake up early enough--I will be awake for screen time and accomplish more tasks.

3) If I reduce FOMO  trades--I will preserve my capital and improve my discipline.

Accept the emotions and no longer identify with them.  It's much easier to see things in the external world without passing judgement on them..

Weekly Review January 3/4

GTOs from Last Week:

GOALS FOR THIS WEEK:

1)  Execute modified Visualization techniques to include 3rd person +Boss/Employee visualizations.  Monitor adherence to daily routine.  This went well, I have attached it to my meditation habit and replaced the memory palace visualization with the 3rd person+Boss/Employee visualization.  This is also how I keep track it and keep myself accountable.
2)  Monitor execution of After Action Reports, refine as needed.  Every single day I review my trades, I attach it to my habit of going to starbucks.  I record my AAR on my Trading Journal google spreadsheets and this is how I track and keep myself accountable.
3)  Monitor adherence to daily preparation routines, refine as needed.  Every single day I log my habits on my google spreadsheets, daily prep routines could be improved by giving myself more time in the morning, sleep on time the night before.  I also came up short twice on my PM habits this week.

TRADING GOALS FOR THIS WEEK:

1)  Trade 1 1min Playbook/GOOD TRADE in the open.  Other than thursday, this rule has achieved the intended goal of slowing myself down and being very selective on what stock to trade.

2)  Timeout 1 5min Playbook/GOOD TRADE after 10am.  This has forced me to be very selective and slow myself down to prevent reacting to fomo.  Having this also gives me a clearer mind to analyze support/resistance levels as well as trends to set my trade plans with increased accuracy.

3)  50$=R, 100$/day max loss.  I followed this well this week !!!

Thoughts/Learning Lessons:

At the beginning of the week, I started out with more confidence than last week.

8 Trades
6 Good Trades, 1 Fomo, 1 Misc Error (3 Good Trades were based on flawed Playbook Trades which are now refined)

Learning Lesson #1:  4 Max ACTIVELY WATCHING STOCKS at the open.

Learning Lesson #2:  Feeling rushed/improper preparation = No trading the first 5mins = GOOD RULE !! Make sure I execute proper sleeping procedures so I'm refreshed for preparation the next day.

Learning Lesson #3:  AFTER TRADE PROCEDURES MUST BE DONE !!

Learning Lesson #4:  Look for signs opposite of my trades--BUT either size down or Let myself get stopped out.. Only those two decisions are appropriate so I don't get scared out.

Learning Lesson #5:  CHOOSE A BIAS for the OPEN BUT make sure your head is leveled when your ACTIVELY listening to the market so you don't get stuck on the WRONG SIDE of the TREND !!!

Overall:  My playbook is getting more refined, my analysis skills have increased and my execution skills/habits are stronger.  My current trajectory is improving each day and each week.  I'm a little worried about my results but I tell myself that as long as my current trajectory is up.. the results will follow later.  PATIENCE... Having more patience than others will provide me the emotional edge and clear mind to base/execute decisions from..  I also have a MUCH stronger support/resistance/trend analysis than last week.  Work on HABITS, Discipline is a LAGGING INDICATOR...

GTOs for this week:

GOALS FOR THIS WEEK:

1)  Execute modified Visualization techniques to include 3rd person +Boss/Employee visualizations.  Monitor adherence to daily routine.
2)  Execute Patience/Meditation consistently, Monitor and refine as needed.
3)  Monitor execution of After Action Reports, refine as needed.
4)  Monitor adherence to daily preparation routines, refine as needed.

TRADING GOALS FOR THIS WEEK:

1)  SLOW IT DOWN !! Do the prep work required and Analyzed the Support/Resistance Levels + Where's the trend at?
2)  Trade 1 1min Playbook/GOOD TRADE in the open.

3)  1 5min Playbook/GOOD TRADE after 0935.

4)  25$=R, 100$/day max loss for MoMo. $50=R for MeanRev.  2 Losses Max/day.

PREMEDITATIO MALORUM

FEAR SETTING / FEAR REHEARSAL for the week:

DEFINE ----------------------------- PREVENT ----------------------------- Repair

1)  FOMO ------------------------------Pre-Market Preparation -------- Sleep on Time to wake up on time

2)  FOMO ----------------------- Follow ONLY Playbook Trades --- There's always opportunity LATER

3)  Fear of Losing $$$$------ Bracket the orders and let SL get hit ------- Reassess if Entry was correct

WHAT ARE THE BENEFITS OF PARTIAL SUCCESS:

1) As long as I remain resilient and refine my systems--I am one step closer to CPT

2) If I wake up early enough--I will be awake for screen time and accomplish more tasks.

3) If I reduce FOMO  trades--I will preserve my capital and improve my discipline.

Subconscious Decision-Making vs Conscious Decision-Making

I forgot where which research article I read it from but it stated that most of our daily decisions are decided by our habits/behaviors well before our mind consciously makes its decision.

In the last few months, I've been visualizing myself getting into trades i'm not supposed to and that I AUTOMATICALLY without thinking just get out.  This week, I fomo'd into a trade and as soon as I entered the trade, I instantly felt my body saying GET OUT, GET OUT, GET OUT.. It felt like minutes and I couldn't think/analyze my situation well-- I ended up going flat and got out of the trade.  The trade eventually went on to make money without me but the MOST IMPORTANT thing is that I followed the appropriate decision at THAT SPECIFIC MOMENT in time.  Hindsight trading is very dangerous, i could've made money on that trade but it would've either reinforced a bad habit/bad planning and I could get BURNED SEVERELY in the future.  It's the 2nd trade below:

What was crazy about this was it felt like minutes went by.. Looking back.. it took me 16secs to finally get out of the trade.

So the problem with this trade is that I had 2 contradicting habits in play.  The main problem was that the strategy/plan was flawed.  This was a perfectly good squeeze but I missed out on it because I didn't give it enough time to work and I've programmed myself to get out asap if it didn't meet the time criteria per what the plan required (which the time criteria was too low).  The trade did not hit the planned stop level of the previous low of the 5min candle but I got scared out because I thought I was fomo'ing when I really didn't.  Since I felt like I was fomo'ing, my capital preservation habit kicked in and I got myself out.

Pros:  Capital Preservation habit is working..
Cons:  Trade plan was flawed and is NOW refined.

Weekly Review January 2/4

GTOs from Last Week:

GOALS FOR THIS WEEK:

1)  Form a baseline for the week to base next week's goals on.
2)  Monitor adherence to daily routines and adjust daily as needed for progress

TRADING GOALS FOR THIS WEEK:

1)  Not screw up TOO MUCH !!
2)  When I screw up, review it and adjust/reinforce appropriate system as necessary.  Monitor Progress of how system does from then on.

Thoughts/Learning Lessons:

At the beginning of the week, I started out with no confidence at all in my abilities.  I knew that my systems are much more refined than where they were at previously.  My thoughts on the week was just to execute my systems as planned, monitor my progress and revise the systems as the opportunity arose.

Looking back-  My execution was much better than I expected.

6 Trades, 3wins-3losses (50%)

P&L was positive for the week

Learning Lesson #1:  Plan was Overextended Gap Up Short on AXSM,  Entry was good, I failed to set a stop loss and got scared out of my position.  Stock eventually went down as planned.

Learning Lesson #2:  Plan was to Dip buy ROKU on a reversal.  I DID NOT know at the time that I was countertrending so early in the day.  ANALYZE AND FOLLOW THE TREND VERY WELL.  Playbook trade is now more appropriate and system has been set to prevent future error. "No reversal trades PRIOR to 10AM."

Learning Lesson #3:  Plan was to Short MU for a reversal.  I did not have the system mentioned on LL#2 yet at the time.  This trade is what opened my eyes on what it is what I was doing.  Other than FOMO, trying to catch reversals are my TOP 2 reasons for having big losses in the past 2yrs.  New systems in place are to analyze the trend much much more thoroughly, proper preparation premarket, no reversals til 10AM and must be very overextended to have a good risk/reward trade on the reversal--more patience and I've been opposite of the front side of the move for far too long.. Right now, I'd rather miss out on reversals than play some of these fuckers.. I CANNOT go opposite the trend unless a FUCK YOU pattern has appeared on the 1min chart..

Overall, I feel a tremendous growth in my abilities.  Both in my ability to analyze the trend, support+resistance levels and just my plain confidence in being able to execute the trading plans.

GTOs for this week:

GOALS FOR THIS WEEK:

1)  Execute modified Visualization techniques to include 3rd person +Boss/Employee visualizations.  Monitor adherence to daily routine.
2)  Monitor execution of After Action Reports, refine as needed.
3)  Monitor adherence to daily preparation routines, refine as needed.

TRADING GOALS FOR THIS WEEK:

1)  Trade 1 1min Playbook/GOOD TRADE in the open.

2)  Timeout 1 5min Playbook/GOOD TRADE after 10am.

3)  50$=R, 100$/day max loss.

PREMEDITATIO MALORUM

FEAR SETTING / FEAR REHEARSAL for the week:

DEFINE ----------------------------- PREVENT ----------------------------- Repair

1)  FOMO ------------------------------Pre-Market Preparation -------- Sleep on Time to wake up on time

2)  FOMO ----------------------- Follow ONLY Playbook Trades --- There's always opportunity LATER

3)  Fear of Losing $$$$------ Bracket the orders and let SL get hit ------- Reassess if Entry was correct

WHAT ARE THE BENEFITS OF PARTIAL SUCCESS:

1) As long as I remain resilient and refine my systems--I am one step closer to CPT

2) If I wake up early enough--I will be awake for screen time and accomplish more tasks.

3) If I reduce FOMO / Zombie trades--I will preserve my capital and improve my discipline.