what's going on guys so I was looking at my last week's P&L statement and I
noticed something that I broke one rule last week I broke my overall rules my
plan I broke the rule I got greedy I got emotional on a tray and you can see here
looking at my P&L how it affected my overall week overall how really it was
damaging you know a negative 423 dollars taking away a lot of profit on the week
where I should have cut my losses a lot faster I should not force that trade I
should I take profit when I had it but instead I got greedy I over traded I try
to force a trade on fr a in and you can see my P&L they're losing four hundred
and twenty three dollars on that trade where it just wasn't a good trade I
forced it I got your Eadie and I broke the rules the worst part about that
trade was it actually ended up going back down it would have worked out if
I'd give it a little more time but that's one thing you can't really think
about the trade just didn't work I try to force a trade I try to short fr a in
you guys saw it all live in the video but you can see my piano here I made
twelve hundred and ninety seven dollars on the week realized P&L lost three
hundred and ninety one dollars on that trade my best trade of the week was JM e
I making four hundred dollars but paying some more in commissions I had a decent
trade there on GME had a great trade there on lazy boy but you can see how I
broke the rules there on Fri in I got greedy I didn't cut my loss fast enough
hand out how that affected my overall week and you can see my true piano after
paying commissions and fees I made $800 last week only traded four
days last week I had one red day there on fre and after commissions and fees
but then you can see I made two hundred fifty two dollars there on Tuesday $334
there on Wednesday and then two hundred seventy six dollars there on Friday and
I didn't trade there on Thursday because I was flying into Hawaii but overall you
can see how Fri and how I broke the rules how I got greedy how I didn't
stick to the plan and that affected my overall profit for the week you can see
everything there no no Photoshop real deal actually refresh associate just so
you guys can see this is the real deal they are so refreshed you can see it's
changing that around so it's what you guys to see that I'm showing you my P&L
showing your my actual profits this is my broker statement this is everything
that I trade it last week so you can see there I made 13 trades I had three
losers after commissions and fees I had two losers before Commission's fees
Express was this a pain the I shouldn't have even traded that yeah
but f ra n was really the big loser of the week and you can see compared to the
rest of the trades of the week just was not a good trade over sized I got greedy
I tried to force the trade I didn't cut my loss fast enough and you can see how
really affected my overall Pinot for the week and showing you guys how the
emotion how breaking the rules not following the rules not following the
plan messed me up screwed me up there on Fri and I really try to force it and a
couple all the trades but overall in the week pretty pretty decent week you know
13 trades to losers so I feel pretty good about it but the bad part is that
fre and was too big of a loss to take compared to the rest of my size is there
you know making $4 was the my biggest win of the week but then losing almost
four hours on the biggest loss so I really need to cut my loss fast er I
need to be strict to the rules need to follow the rules that's one of the
reason I was talking about following the rules I want you guys to see how I broke
the rule one time last week I didn't cut my loss fast enough and that affected my
overall week you know if I were to cut fre n faster if I would've got out with
only two hour loss I'd have a better week I have a thousand dollars and true
P&L for the week but how breaking the rules one time how Iong to force that
trade rfra in trying to to go bigger they're doubling down when I should have
just got now ended up costing me you know $1,000 a week instead only making
$110 there you saw the trades but I wanted to show you guys this overall my
P you know and how that one trade on Fri ain't affected my overall week I was way
too many trades there on JM he I kind of forcing some trades mo mo also kind of
over trading that you can see th teach over trading that but overall my biggest
win of the week goes there on lzb lazy boy with only two or three trades kind
of sizing out of that and then also another trade there on gme paying $25
and commissions making $300 so after commissions fees making $270 there on
GME but overall a week kind of forcing a couple trades CRE I was up a hundred
bucks on that one at one point got greedy ended up just covering for $36
profit and then making $13 after commissions fees but I want you guys to
see how I broke the rules one time had two losses last week but one of those
losses was way too big and it really affected my overall week but hopefully
this gives you guys a better picture a better idea of how even small profits
you know making 200 300 dollars every single day adds up I would've had $1000
week with only four days last week if I would just not
force that fre in trade if I would have stuck to my plan would have got out when
I should have should've taken profits should I gotten out or cut my losses but
you guys just to see that overall having that 70 to 80% win-loss ratio it's not
bad if when you cut your losses fast if I kept my losses small I would had a
great week I had over a thousand dollars in profit but instead I got greedy there
on Fri and I got emotional I try to force a trade and it cost me you know
$400 there so really kind of regretting that and kind of looking back and like
okay Patrick you know in the future now you know why you did it you you pushed
the envelope there you'd force a trade you see why you need to follow the rules
in the first place you know why the rules are there you know you know
normally I try to keep my $200 $300 being max lost you know 200 hours I I
need to cut my lost 200 ours but they're fre and getting up to almost $4 there
and the worst part is that it went back down afterwards but it is what it's you
know it always is hindsight is 20/20 but I want you guys to see how even trading
with a small account I started out the week there with three thousand three
hundred sixty-four dollars into the week up four thousand one hundred
seventy-five dollars so you know making a her dollars on the week after
commissions and fees not bad still you know realize P&L was twelve
hundred ollars you know 350 bucks and commissions for the week really kind of
overpaying and just forcing some trades there you can see how over trading
couple trades really racking up commissions way too many trades there
and to see how important is to stick to the rules stick to the plan and have a
plan when you're trading kind of have your max loss take profit when you got
it and that's the big thing is just kind of
not not trying to force those trades not trying to over trade and see the
difference there so not bad overall in the week only trading four days still
making 810 dollars there after commissions B's you know maybe if I
would have traded there on Thursday I'd be up over a thousand dollars in a week
maybe I'd be down who knows but overall just kind of looking back here on fr a
and kind of being a big loser for the week for me and try to trying to focus
on that for next week remember that I needed to cut my losses when I have a
big loss I don't need to double down you try to force trades need to just get out
when I can the funny thing is fr Ewing at one point I was actually in the green
on that trade I got in the red it came back down I was in the green I should
have cut my loss when I had it I would have got out for you know twenty thirty
dollars a profit but instead I was greedy I thought it would go lower and I
try to force a trade and you can see how that worked out for me so forcing trade
it's over trading not not sticking the rules not sticking
to your max loss cost me profit that we four dollars in profit just way too much
to lose on one tray there
you