The Daily 41 Points Day 1

What To Expect!

DAY UNO

It’s the 1st of June, 2022. The daily 41 points came to me as a way of growing past my fears in trading. My impulse behavior and lack of discipline. I do things and wonder why I do them. These behaviors are becoming second nature and if I have them habitually, then they can be replaced through hard-work, consistency, and discipline.. Right? So I figured—Why don’t I make my trading mechanical, why don’t I set rules that will guide me into becoming a better trader. I have to learn to tweak my trading to suit my personality. Doing a personal check, I figured what my weaknesses were, what my strengths were, and most of all if my strategy was great or terrible.. Took a while, but I got answers. 

Today, it’s a new month and I remember being just so excited on what’s to come. Something new, something great. A new direction; a new path. If I’m going o be a great Nasdaq100 trader, I need to start taking this more seriously. No more jokes, no more shortcuts. I’ll work now, cry now.. To smile and be pleased with myself later. That’s the plan; that’s the goal.. Was reading a book and this quote stuck, “A formula for success: Find what you do well and then figure out how to do it in trading”. The question I ask myself daily is what do I do well.. Do I even know myself well enough to know what that talent of mine is? Favour, what the hell are you good at?

I’m pretty great at analysis, pattern recognition, solving problems, I’m organized, I pay attention to the detail. As for talents, I guess I’ll find that out. With the little observations I ‘ve made though, my talent is something involving art (creativity). I can’t exactly tell what that is just yet. Maybe “pattern recognition”.. I figure stuff so easily too. Knowing this, my strategy revolves around reading the market behavior and trying to know what story it’s telling every new day. What stories are being told daily by the market? I figured this out late and only discovered it in “Day tres”.. Day one, the Nasdaq100 was generally in an uptrend but a range. In the range, the market started making Lower-lows and Highs. I took a sell risking just 41 to gain 41 because, well—“daily 41″. The idea was to take a sell it the previous LL. But unfortunately, the market had a support there. The market popped another candle and my SL got hit.

Day one, I didn’t figure what I was doing wrong. Although the lesson was to learn to trade the range. I figured that in a range, the support is usually really strong. In a range, you only take sells at resistance and buys at support. If you don’t rust it, then you can stay away. My problem was the staying away” part. I just needed to trade. That was the first step to the loss. “Trading was my high”. The plan I made wasn’t diligently followed. At the end of the trading session, I realized that I was down. Losses still affect me and winnings excite me. Furthermore, I realized how much I needed to work on that. In trading, if losses and wins have control over your emotions then you’re not focused on the process but it’s outcome. That alone is the first step to trading failures..

I cant wait to tell you about “day dos”..


All Rights Reserved: commercial and non-commercial entities must contact the site owner for permission to use extracts from this blog and acknowledge the copyright and full attribution at all times. Never Miss The Lljournal Article!

Become A Master Trader—“Book Lazyluchi”…Want To Know The Next Episode?

Tune in to get exposed to my trading journey: personal backstories, experiences, observations, strategies, lessons, struggles, and victories.

 Hit the—“Subscribe!” BUTTON.

Cheers,



Leave a Reply

Your email address will not be published.