This week, I was able to make $1800 (only a little bit over half of my goal). I'm not terribly upset. First, I have to admit that $3000 was a tough goal but I felt like it was achievable. +$1500 is a nice start to the month, although I don't want to be content with anything less than what I'm capable. Looking at this week, my P&L was a little more volatile than what I would want. In my 3 losing days, 2 of them were for -$500 and another for over a $1k. That is not where I want to be, especially that last number which is my daily loss limit. I accept the fact that I will have losing trades. I do not accept the fact that I can go through a big string of losses. It tells me that I'm trading emotionally and am probably even attempting to trade a choppy market. Stick with the In-Play stocks where I can read its order flow clearly. Don't mess with stocks that offer the best risk/reward.
In terms of this week's goal planning, I want to:
- net $2500 ($500/day) this week
- lose no more than $500 on my worst day this week
- arrive each morning at 7:30am and list the best stocks to trade
- write a detailed blog post about my trading at the end of the day
- push myself to risk $300 (currently $200) on my favorite intraday ideas
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