Thread by @curlygalinvest

How I got my biggest drawdown of 2022 #trading on 6/14,mistakes to avoid & how Im fixing it: A Thread🪡

Started day with acct Bal@ 7.4k+ was working to 10k &plans of withdrawing half then,rinsing & repeating.Ended close to 5.2k

Beggining of April worked it up from over 2k. 1/16

6/14 Trading Recap $TSLA 1st #trade Entry 9:44am👉🏽 13.80
Exit 9:56am👉🏽 9.00
Size: 2 Volatility was high+at that price 2 cons were too heavy 4 me making it to where mentally I was more reluctant to cut.

🌱This is where hard stops takes the hope+the emotion out of the equation. 2/

I expected more downside room. Should have reacted to price action & what chart was telling. Went over my 1 min chart trendline. It even double bottom & I still didn't exit until it was way further.

🌱Theres no guarantees in the market, so don't marry an idea.3/16

#TRADINGTIPS

$FDX Subsequently took 2nd #trade (stopping 4 day IS an option) & oversized attempting recoup 1st loss❌️Failed,mvmnt wasnt right, R/R skewed+again, bleeder.Made hole even deeper. By then purely emotional seeking 3rd trade $SPY to"get me bit better"👀now oversized & emotional.4/

In reviewing my #tradingjournal data,interesting discovery $TSLA my biggest loser ticker in overall #trading history.Made💲but lost more #daytrading it.Hence why I stopped trading it as much this yr,only very selectively.

🌱Eliminate what doesnt work,do more of whats working. 5/

Looked through all #trade dates in @tradersync on day before & day of FOMC in 2022.

Im historically red on day before FOMC, some red on day of & acct has gotten big reds in those wks.

This significant to officially pin point& example of events u want2record in #tradingjournal 6

I took myself out of #trading after that third trade. -2k is a psychological level to hit for me. So thankfully stopped. However, THIS should NEVER happen.

🌱Hoping IS an account killer. 7/16

🌱A simple Hard Stop keeps you away from a snowball of mistakes.

As I process all this & in conversing with my mentor,it comes down to looking at my values.

What do I value most? Missing on perceived potential upside or ensuring I protect my downside to be successful? #Trader 8

🌱"Your failure for hard stops is the ONLY reason your acct ain't massive. Think on that. Read it again."

"There is nothing else. You make money, you can trade. THAT is whats stopping you. You wanna get out of the office?..Place the stops."

~@breakoutplays1

☝🏽☝🏽☝🏽Truth. 9

🌱What now:
👉🏽Hard stops 5-10%,move them up
👉🏽Using trendline in 1min chart,if over,exit
👉🏽If 3rd candle goes above 1st is def time to exit
👉🏽Enter small,add if working

I keep #trading. I build a new habit. I document the contrast & the comeback.

🌱Make it easy on yourself. 10

🌱If you are working towards becoming a consistent #trader, protect your downside.

Cutting your losers timely is probably the most powerful thing you can do to grow your #trading account.

11/16

🌱Journal+ResearchUr #trading hx

In doing so u'll discover when&where u most successful&not.

If u mostly red Fridays,stop trading Friday.If a ticker biggest loser,stop trading the loser.If do great w certain symb,do more of the 1.

As my mentor says,we in control of our acct.12

13 Ive been using @tradersync 4journaling & tracking my #trading The analytics are bomb & gives me personal compass into what works best 4me.

Use it this wknd & see ur data,u'd be surprise all u can learn from it!Try it 7days free,get 15%off if u keep it❤️tradersync.com/?ref=curlygali…

14🌱Lastly,find ppl that'll keep u accountable,with right amt of empathy,without sugar coating it. One needs that to startle u a bit,challenge u enough & call u on ur nonsense.
Great Follows4This
@breakoutplays1
@singlesdoubles
@Zen_Options
@tradingchik
@dtr_trading
@MomAngtrades

15 🌱So many other supportive accts out there also imparting bomb knowledge. Find your supports!
@itsonlymoney12
@karmaoptions
@TradeForOpp
@TradrNate
@iMATTHEWRYAN
@mommavestor
@Penny_Lane_BBM
@SwingPony
@soundtradepsych

Much appreciation🙏🏽🙏🏽🙏🏽❤️

🌱If you found this thread helpful, especially for beginner #traders out there to reflect on important key points in #trading pls retweet the first post so this can reach more & hopefully learn from this journey.👇🏽😊 16/16

https://twitter.com/curlygalinvest/status/1537939146739572736?t=igvJhjSrkumsfvngtWCN3A&s=19