Monday, February 18, 2019

Playbook Overhauled / Monthly Review was overwritten accidentally

I'm cutting all LONG strategies from my playbook until I build up my account.  Below is still work in progress but it is my comparison on where I'm at at the moment.



Status of Long Strategies:

Pros:

Cons:  
1)  It's harder to know when you're wrong vs a Short.  When the trend slows down where I take profits and then I need to stop out--there's usually a panic sell and hard to get filled.
2)  I get tunnel visioned and usually DO NOT judge my risk > inappropriate share size > uncontrolled risk.
3)  I tunnel vision and miss out the bigger picture charts and higher timeframe trends.
4)  I FOMO and chase hard.


Status of Short Strategies:

Pros:
1)  It's easier to know when you're wrong vs a Long.  I'm usually getting out of a trade as a scratch when I don't chase my short entries.
2)  It's much easier to judge my risk and place my stop at.
3)  I don't get FOMO'd as much because I let the price come to where I want it go.

Cons:
1)



Comments:
For rest of February and March--I will take only SHORT Trades and will Paper trade LONG Trades.

No comments:

Post a Comment