{"id":36671,"date":"2014-03-08T11:35:06","date_gmt":"2014-03-08T16:35:06","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=36671"},"modified":"2023-08-01T19:15:09","modified_gmt":"2023-08-01T23:15:09","slug":"i-am-not-becoming-as-good-a-trader-as-i-expect-fast-enough","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/i-am-not-becoming-as-good-a-trader-as-i-expect-fast-enough","title":{"rendered":"I Am Not Becoming as Good a Trader as I Expect Fast Enough"},"content":{"rendered":"

Hi Bella,<\/p>\n

I’ve been making some very steady progress since doing the DNA program last year. My monthly metrics show incremental improvement, and I’ve been enjoying putting in the work each and every day. Joining the SMB VTF has been a huge benefit, and communicating regularly with some of my DNA group has also been very beneficial.<\/p>\n

Today I encountered an accidental experiment for myself that provoked me to consider my recent trading and was wondering if you have the time to comment. First, I need to set the context. I feel I’m becoming much more consistent with my trading and building a foundation from where I can begin to push to a higher level but still experience pangs of anxiety while taking this on. Among other trades I’ve been having particular success playing pullbacks with strong stocks in play, generally on the open.<\/p>\n

For example, some excerpts from my journal:<\/p>\n

Tuesday<\/strong>:
\nGoal<\/em>: Learn to trade w\/o fear by taking on more setups with lowered risk
\nGood opening pullback in OXBT
\nUnable to transition to next OGT
\nFocus on “In Play” and “PlayBook” trades for the close
\nQuick scalp short in SPY
\nTried b\/o in NFLX but no volume; not in play<\/p>\n

Wednesday<\/strong>:
\nGoal<\/em>: Learn to trade w\/o fear by taking on more setups with lowered risk
\nGood opening pullback in YY for drive higher
\nUnable to transition to next OGT
\nMissed CSIQ bounce from 37; couldn’t pull trigger
\nKeep pushing to put on more trades<\/p>\n

Thursday<\/strong>:
\nGoal<\/em>: Learn to trade w\/o fear by taking on more set-ups with lowered risk
\nPrep for goal<\/em>: Visualize getting in more setups: visualize downside (losing $$$), visualize upside (long term benefits, making a chop, learning process)
\nTried b\/o in AAPL and NFLX based on strong market; no volume (no catalyst), bought the highs in both, held too long, stopped out took a hit
\nGood pullback in P
\nGood short fade in DANG<\/p>\n

Last week was similar to Tuesday and Wednesday where I was making good opening trades but unable to transition to the next OGT. Thursday was different and because I was negative P&L on the open. I was constantly on the lookout to correct that so ended up trading more setups by default.<\/p>\n

Today I was unable to trade the open (I took my daughter to JFK to hop on a plane to Japan for a high school trip!!).<\/p>\n

When I returned (about 1pm) I turned on the screens, checked the In Play stocks and my regular watch list to catch up on the things I had missed and looked to see if there were any interesting setups.<\/p>\n

I traded BIG as it came back into 35; I was stopped out for tier 1 below 34.90 but got back in on the move back through 34.90 and above 35. I was able to get tier 3 at 35.01 average. I took 1\/3 off on the first move into 35.30 area it dropped out back to just above 35, so I took another 1\/3 off the next time it couldn’t hold 35.35 and it dropped out again, making a slightly higher low. On the third attempt it still couldn’t get through; I saw Shark take a short position so I got flat. When it did break I got back in tier 1 at 35.44 but with my previous experiences with the dropouts felt uncomfortable and took quick profit into the 35.50s.<\/p>\n

To summarize:<\/p>\n