Today was a tough trading day for me in the crude oil markets and in front of my students in the Live Trade Room. My entries were not very good, I felt I was getting in late on them and taking more stop outs than usual.
From there I started chasing to get back my losses. That never works. So I lost my profits for this entire week today which really is not big deal to me. My biggest worry is hitting a daily loss limit or weekly loss limit during my Funded Trader Preparation.
I know I can generate profit and good trades but sometimes I tend to overtrade and I have lost in the Funded Trader Preparation because of daily loss limit and weekly loss limit. I really have to be careful tomorrow with my trade selection and risk management.
Moving forward the plan for tomorrow is to win the day, That’s it. Try to gain back some profits I lost today on Either ES on CL. The Non-Farm Eploument Report and Employment Rate is out tomorrow so let’s see if the continued volatility in the ES is there. It was a volatile day again for ES and I didnt pay much attention to it, I had a few things to do outside of the office.