June 9 Recap

I read the last two weeks of recaps. It was so so so clear the biggest take away is absolutely wait until it's super obvious on the 10m.

Today, it was pretty obvious we were very much at resistance. But there was no obvious 10m trigger to enter, by the time I got to the charts at 3p. There was plenty of bearish divergence at the daily call trigger. That would've warranted puts down to the 10m21e. However we were already digging into the ribbon and there was no reason to chase into puts.

Instead what was obvious to me was that we were holding the 10m ribbon and the 21e. Eventually I took a 0dte position. It was just below the previous 10m low. The 3m kept wicking off support. The call entry was great. The execution was dumb. I entered at 4.8, then added at 6.8 instead of taking a 38%! profit there. Then was forced to take a loss. Green to red. The very worst. So what if I exit early or I didn't profit 'enough'?!

I had profit. And, I let it go. Worse, green to red is an emotional trigger of mine. I started trading the 1m charts constantly expecting a break when in reality of course support and resistance hold. I just spent my prep reading about how in range, I have to just exit. The exit was warranted as we were at the next level, but I wanted to hold on in case we went more, but in reality, the plan was always to get out at the next level no matter what.

Had an incredible entry. An incredible willingness to take a loss. Then instead of exiting I added and took an unacceptable loss.

Losses when perfectly executing trades are easy to stomach. Losses due to stupidity cause me to do more stupid shit. Can't do stupid.

Because stupid causes more stupid. I started honing in on the 1m chart(!) and trading 0dtes. Just unacceptable and not at all what I'm trying to accomplish. I'll never be able to size 0dtes. I need to stick to 10m setups with 1dte. Rinse. Repeat. That is it. LFG!

What's so dumb. And continues to be an issue. Is the lack of accepting the loss. I took 4 trades. In reality the 2nd to trades were buying back contracts I had already sold in the 1st trades. So, I took small tiny cuts that ended up being larger than if I just let the initial trades go to zero. I must, must stop oversizing. It's the only killer. I can fuck up my process and it be "okay" if I'm sized appropriately. It's not about the return on one trade. It's not about the return in one day. It's not about the return in one week. It's not about the return in one month. It's about sticking to the process day in and day out. Building consistency. Stacking small wins. Just do it.