In the afternoon I straight up missed an NQ entry because I wasn't paying attention and while it only would've made me +1.25 missed profit is still missed profit. I bought the NQ on a valid entry and got stopped out for a -1.75. Then I got long in the ES and stopped out right away. My mistake was re-entering the market on a second valid entry. The reality is I shouldn't re-enter on failed entries. Lesson learned. The exchange cost me -3 es net (-1.5 on each entry). But the idea was sound regardless and the loss was valid.
Even with not missing that NQ signal and not re-entering the ES a second time I would still end the day down. But there is a significant difference (-10.00 vs. -110.00) but that just reinforces the need to focus during the day and stick to the rules!
Trade Results:
ES: -150.00
NQ: +40.00
2 comments:
What kind of risk/reward (profit factor) are you shooting for on your trades? Today was a relatively shitty day overall, and can't really be used as a measure, but it looks like you're going for small/quick hits; I mean 1.25-2.50 pts on the NQ is just noise.
Yea that second trade I missed was already pretty much over before I got in - but I was risking I think 1 pt on it at the time?
The earlier trade in the NQ went for +3.5 which I don't consider noise... had about a 1:1.5 on that one.
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