+105$ and loving it :)

Ok you guys, I finally feel more optimistic about my future as a trader, it doesn't mean I will not take precaution steps to avoid being in a "God-Mode" and thinking my trades will always go my way, but I'm starting to trust myself again, and truly believe in myself, and as they say, "with success come confidence", this time they are right :)

What happened?
A recipe for a good trader - First, lose money doing foolish mistakes, and promise yourself you never do them again, Second, lose even more money doing the same foolish mistakes, over trading, thinking "the next trade will save me for sure" and take trades without proper setup, try to scalp your way up, higher your quantity before you can handle 1 contract in NQ (or in stocks 1000 shares instead of just 100).

And Finally (step 3), after you promise yourself you wouldn't make mistakes again, lose enough money that will make you reflect on things for a month, and tell yourself "It's either I survive in this game, or go bust in less than a month..", and trade well, stop losing money, and even start making some.. just a little thought..

So you're asking what happened? I bet you do.. well I believe I'm in step 3, I finally lost enough money to shake my confidence in the business of day trading, and started actually to become cautious, I start following my trading plan by heart, disconnecting emotion from trading as much as I can, and cut losses so fast that two days ago I lost 70$ on 3 trades (2 losing 1 winning) and just finished the day, I cannot afford myself to lose a lot of money in one day, and that is the mistake I made in the start, I could lose 1000$ in one day (on small account!), now was I stupid or what?

Well enough with the educational part about losing money and stuff, and let's get to the report of the day:

Arriving home late after a relaxed day at work, I got back just in time to "miss" the 14:15 short, well at least I think it was a nice setup breaking the uptrend. I saw it with my own eyes, but wasn't able to take the trade since I still have some self confidence issues..

So I waited like a hawk, stocking his pray, which in this case was the NQ Future, and at 14:54 I decided I saw a setup of a double bottom and that the market will break up and took a long @ 2201, setting my stop at 2199.25 (below latest swing low), soon after I took the trade I had a little "heart attack" when NQ went down to 2200.

But hey, it's only a point down, so I stood my ground which in this case was the stop loss :), after seeing the NQ perform well, driving his friends the ES and YM up I figure it would be nice to set what I call a "stop win" at 2203.25, below the next swing low, and after a while (16 min in the trade) I sold at 2106.5, for humble 5.5 NQ pts, it's not a lot, but hey, it's money! :)

Here is the visual:


Oh and did I say Thank you NQ? ahh no, so 10Q NQ ;)

Have a nice day everyone!

Btw - another "1 trade a day", I think it's enough for me to find one good setup a day..