Another week of losses but some valuable lessons learned. Firstly, I cover the trades. This week, I only made 7 trades but managed to lose $323.92 or about 3 times as much as I lost last week.

Of the 7 trades only 1 was a winner with 6 being losers for a horrible accuracy of 14.3%. One tiny positive though was that even with the 2R loss in $CROX; my average losing trade was still $54.84 or just about 1R.

Now onto the lessons learned:

1) There were slim pickings this week but nonetheless each day I was zeroed-in and even traded the best stocks that made solid intra-day moves. However, I just need to work on the timing of my entries. So going forward; I will generally look for entries in  the 9/20ema zone on the 2-minute chart instead of the 5-minute. I'm shifting my intra-day time frame to the 2-minute chart from the 5-minute for the morning session as more often than not in-play stocks have been making the best part of their moves without ever really setting up on the 5-minute. 

2) Need to focus on trading the price action instead of the PnL. So going forward; I will take 1/2 of the trade off on any decent push in my favor based on the way the stock has been trading instead of based on the unrealized PnL; then try to let the rest ride for the bigger move if any using the 9/20ema's as guides. Even though I removed the un-realized PnL from my platform; mentally I'm still estimating it and trying to hold out for at least a 2R move before taking profits. Gotta focus on making exit decisions based on the chart and price action on the tape instead of PnL.

That about wraps it up. Looking forward  to trading next week and furthering my journey towards becoming a consistently profitable day trader!