{"id":529,"date":"2019-09-16T03:42:49","date_gmt":"2019-09-16T08:42:49","guid":{"rendered":"https:\/\/daytradingfreedom.com\/blog\/?p=529"},"modified":"2019-09-16T03:42:49","modified_gmt":"2019-09-16T08:42:49","slug":"friday-13th-strikes","status":"publish","type":"post","link":"https:\/\/daytradingfreedom.com\/blog\/friday-13th-strikes\/","title":{"rendered":"Friday 13th Strikes"},"content":{"rendered":"\n

I’m not a superstitious person, such beliefs are incompatible with profitable trading<\/a>. That said, Friday 13th got me this time around, slapping me down and putting a big black mark in my trading log.<\/p>\n\n\n\n\n\n\n\n

To be clear, the error was entirely my fault. I should never have entered the trade. The setup was okay; nothing special but nothing terrible. It was the momentum that stuffed me. Or rather the relative lack of it. I jumped into PGR when the conditions were suboptimal, and this was the result:<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

Sure, the trade made some profit, but that’s not the point. As traders we should always be measuring our performance and rating ourselves on our execution<\/em>, never on profit. And my execution here was shoddy to say the least. The suboptimal entry was the start of it. Staying in the trade longer than a few minutes just added to the poor showing. The signs were all there that this wasn’t great, and I should have got out earlier. Indeed had I done so, I would have bagged a bigger profit \u2014 poor though the trade was, there were another couple of hundred dollars on the table had I jumped ship earlier. As it was, I got out on the next bar not long after I saw it open and the price heading north. <\/p>\n\n\n\n

Of course I’m not blaming my derisory trading on a date linked to the last supper or the arresting of the Knights Templar<\/a>, that would be ridiculous. It’s more the fact it was Friday and I’m lazy and wanted a quick trade so I could be done for the week. Really I should have just taken the day off.<\/p>\n\n\n\n

Things went better with core stock ROKU, which I don’t think I’ve posted for a while.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

The setup was a little messy, crossing the MA and the previous day’s low, but the price pattern itself was a good one, and this time there was some decent momentum to jump on with. The trade was one of those ten-minute wonders, and the exit came when the momentum disappeared and the move faltered. Better execution meant making double the profit of that poor excuse of a trade on PGR.<\/p>\n\n\n\n

Not a bad week overall, but my poor performance on that PGR trade is a big black mark in my log, and something I shall beat myself up over for some time to come. That’s no bad thing; it’s good to remind ourselves of our weaknesses, it forces us to work to improve.<\/p>\n","protected":false},"excerpt":{"rendered":"

I’m not a superstitious person, such beliefs are incompatible with profitable trading. That said, Friday 13th got me this time around, slapping me down and putting a big black mark in my trading log.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/posts\/529"}],"collection":[{"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/comments?post=529"}],"version-history":[{"count":2,"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/posts\/529\/revisions"}],"predecessor-version":[{"id":531,"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/posts\/529\/revisions\/531"}],"wp:attachment":[{"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/media?parent=529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/categories?post=529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daytradingfreedom.com\/blog\/wp-json\/wp\/v2\/tags?post=529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}