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Today was the final nail in the coffin for my learning process and journey of becoming a trader. I KNEW today was going to be a low volume day and no major catalysts were in play. I was prepared to not take any trades at all. I had an amazing pre-market routine and meditated for 10 minutes. I kept chanting to myself things like:
- "I will stick to my trading plan"
- "will only risk 1%-3% max risk per trade"
- "I'm prepared to lose and be a better loser"
- "I will cut my position when my trade thesis is invalidated".
Market opens, I see that first big green candle and break of pre-market high on SPY and TSLA and other names. I open not only one, but multiple simultaneous long positions on NVDA, SPY, QQQ, TSLA and AAPL, anticipating a big rally. Few minutes in, things were still consolidating. I kept sizing up (idiot).
Around 10 AM, the low vol reversal happened. I was very calm. All my stops were breached. I didn't have an automatic stop as I usually do (idiot) and I kept adding to my contracts in a very calm and detached manner. I was very confident that a huge reversal was coming (similar to 6/23).
I blew my account 🤡. It was a small account anyway. It had around $3k remaining after being already down 50% YTD. This is the second account that I blew. I'm going on a camping trip this weekend to detach myself from everything. I'll probably take a long break and then start paper trading for a few months or just focus on my career and forget about trading for a while.
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- 2 years ago
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