{"id":19698,"date":"2024-04-22T12:25:48","date_gmt":"2024-04-22T20:25:48","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19698"},"modified":"2024-04-22T12:25:48","modified_gmt":"2024-04-22T20:25:48","slug":"notes-from-a-day-trader-levels-for-april-23rd","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/notes-from-a-day-trader-levels-for-april-23rd\/","title":{"rendered":"Notes from a Day Trader + Levels for April 23rd"},"content":{"rendered":"
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The Week Ahead and Controlling your Emotions<\/h3>\n

by John Thorpe, Senior Broker<\/p>\n

No Fed speakers this week, it is the blackout period in advance of next weeks FED meeting and rates decision.<\/p>\n

Look for earnings to move the market this week\u00a0\u00a0MSFT, GOOG, META, XOM, Visa, TSLA<\/p>\n

Last week, my colleague posted an article about FOMO just about the same time a client of mine was battling his own fear of missing out.<\/p>\n

Of course I asked my client if , after redacting account information, he wouldn\u2019t mind if I shared his \u201cjournal Entry\u201d with everyone.<\/p>\n

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John,<\/em><\/p>\n

I’ll give you an explanation of what happened yesterday. After we talked I left for my job. I returned at 2:30 and saw that I missed all the “short” activity yesterday.<\/p>\n

Disappointed, I made the mistake of trying to catch up . I had several positive trades and then several negative trades that put me in the negative for the day.<\/p>\n

I was active in a “short” trade, sitting at my desk. I nodded\u00a0off. I don’t know how long,\u00a0but it must have been enough seconds that the price action had dramatically\u00a0turned “long”. Unfortunately, I nodded off with my hand on my mouse. It seems that I touched the mouse and now I discovered\u00a0that I had clicked a second contract. I was hoping to recover\u00a0the $1800 loss but it was too late.<\/p>\n

1. I went back to practice\u00a0simulation. First on the 15th from 9 AM and with 3 clicks I had made $2300. Then stopped while\u00a0ahead.<\/p>\n

2. Today I again started practice at 9 AM and within 2 hours made $530. Then stopped while ahead My mistakes. What do I learn from this:<\/p>\n

1. Don’t fall asleep while trading.<\/p>\n

2. Don’t fall asleep with your finger hovering over the mouse.<\/p>\n

3. Stop when you’re ahead and don’t try to make money on the short price action movements.<\/p>\n

4. Reminding again to only trade with the trend.<\/p>\n

One of the most common pitfalls of traders in Futures Trading is the fear of missing out (FOMO).<\/p>\n

Understanding FOMO in Trading:<\/strong><\/p>\n