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Chasing Intraday = Losses

Chasing Intraday = Losses

Looked for a bounce intraday as the Dow, Russell 2000, Nasdaq 100, and S&P 500 came into their respective support levels. Got a good entry on 4 contracts and ended up stopping myself out basically flat. The market then started moving without me --- I "revenge traded", chased it, and immediately stopped myself out for a $25 loss after realizing I had no plan for the position and should have never been in it in the first place.

Learned that one minute charts should only be used to help in execution and not for idea generation. When I get too granular that's where I get myself into trouble. Need to remember the bigger picture and not allow myself to be swayed by every tick.

Down ~$200 (~1.33%) for the day after four trades. Taking the rest of the session off and back at globex open to see if any opportunities develop in the overnight session.

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