Tuesday Log – MO Was the Trade(s)

The difference between having a winning day and what turned out to be a losing day was the fact that there were six MO trades that I saw and did not pull the trigger on. Between the open and approx. 1330, the intraday timeframe was slightly downtrending before bottoming out near the overnight low.

Although the higher view is a range bound market, opportunities were there for at least some scalp trades. These past two days have been frustrating for me. Range bound market, minimal TC set-ups and not entering some scalp trades that I saw but failed to act on. Lack of experience with trading the scalps and lack of discipline to go for the 2-6 tick moves is an issue I must address.

I started to trade in the afternoon session which was my second downfall for the day. Tried some scalps, had winners that turned into losers albeit stops were in place to minimize the drawdown. Had terrible reads, did not do bracket trades and possibly too tight of stops. I felt like I was forcing trades. Six trades. Result: -9.0

What is amazing is after having such a great week in mid-May where I felt I was reading the market well, managing the trades well and not over trading, since then its like “what happened to that trader”?

I’m looking back at the mid-May journal entries and charts and will compare then against the past couple weeks. Sometimes the best trades we make are the ones we don’t make. However, missed opportunities are trades that should be made or at least some of them.

Trade Well !