January 23 and EOW

Morning trade net +3.62%.

A for trade execution. A very sound thesis. Slow scaling in. Proper exit.

It got me thinking that if I create a rule behind how much/when I exit it'd take the emotion out of it. Obviously I've known this forever but really learning the benefits in real time.

I think what typically gets me is I'm waiting for a level to break. When in reality I should be entering at the previous level and exiting 60%-80% of the position at the next level / the level I'm waiting to break and then let the runners run.

What happens is I end up looking a tthe P&L. Anchoring to that and then unwilling to let the trade go to break even. Or I say I'm willing to let it go to break even and defer to the PA, then it goes to break even, I panic sell and turns out that was the low. So, even more rationale for exiting 60%-80% because if it doesn't break, I can also add back if the setup is still present. While again taking 60%-80%. Never expect the level to break. Just manage the position. If it goes great. If it doesn't still good.

Portfolio up is the outcome.

A+ execution and risk management is the imperative.

So, this week has been better than any month I've had in the last 3 years. (caveat being in my first month I had no risk management and a giant portfolio and yes made more, but not responsibly).

I have less than 2 hours in the trading day. How much am I willing to eat into my profits to add to my profit?

I'm willing to do it. But the setup has to be really warranted. The option selection really thoughtful. And the position size incredibly small.

Zero reason to trade. +26% on the port this week! Full risk and A+ setups only.

Clown. Finished +3.68%, yet the risk I took on to inch that gain up .06%... not smart. Nor after commissions did it probably actually improve the P/L

There was no reason to trade.

My first trades were A+ execution. Then I got cocky, wanted more, unwilling to lose, sized up -- all the bad habits.

While I was never in a position of having a red day, I could've have seriously impaired my week. And, there was just no need to do that. We were in a very tight range. Choppy. Not great environment to trade.