PL: -2.1 / -£51.08 CAP: £2397.27
Trades:
1. (-0.6) Short Dark cloud cover at 38.2, exit didn't like price action.
fault1: Dark cloud cover is a weak signal that isn't one of my setups so I shouldn't have traded. ATG (entry)
2. (-0.5) Short SS @ 38.2, exit discretionary.
Fault1: should have held it was a valid signal, and followed price action closes. ATG (exit)
3. (-1) Short CBPL at 21EMA, exit ISL
Fault: should have exited on formation of HM .ATG (exit)
Trades I would have liked to have taken...
A. CBPL, Short at 38.2 +252EMA on CBPL. problem occurred before 0730, but volume had ticked up so was tradeable. This is what the 0730 start is for, to ensure there's some action.
B. SS short @ 38.2 (got this one, but managed poorly)
C. Bull EP, Long at 21EMA into 252EMA, missed had quit for the AM.
D. CBPL into 23.6 (got this one but messed up the exit).
E. HM off 23.6 into 38.2 area
F. HM off 23.6 into 38.2 area
G. SS @ 21EMA
Notes:
Fault, I saw trade A but didn't take it because I was trying to obey my rules. But volume had ticked up prior to it so I could have traded it. Volume is more important than a precise time ATG
The only candles I can trade with no confirmation are Hammers (HM) and Shooting Stars (SS), provided they're at the top or bottom of a move, or on S/R. All other entries must have touched an S/R area and got confirmation. if long CAPH (close above prior high), if short CBPL (close below prior low).
You've got to exit a Short when price CAPH, and a Long when price CBPL. Exits ATG
You've got to track the low of each new high (long), and the high of each new low (short). TSL ATG
You've got to re-realize that there's nothing wrong or scary about taking small losses. Psych ATG
You've got to accept that price action will tell you what to do. Psych ATG
Summary: In all honesty I didn't feel like trading today, I just didn't have the enthusiasm, I was up late last night with family stuff but I felt like I was being a pussy so traded. The positives are the ideas were right ( trading off the stretches, looking for bounces through and from S&R) but my execution was appalling!
Today's poor result, was a product of my rushing, not having patience, lacking confidence and enthusiasm but these were all a by-product of my exhaustion (I can't trade when I'm tired!).
Trades:
1. (-0.6) Short Dark cloud cover at 38.2, exit didn't like price action.
fault1: Dark cloud cover is a weak signal that isn't one of my setups so I shouldn't have traded. ATG (entry)
2. (-0.5) Short SS @ 38.2, exit discretionary.
Fault1: should have held it was a valid signal, and followed price action closes. ATG (exit)
3. (-1) Short CBPL at 21EMA, exit ISL
Fault: should have exited on formation of HM .ATG (exit)
Trades I would have liked to have taken...
A. CBPL, Short at 38.2 +252EMA on CBPL. problem occurred before 0730, but volume had ticked up so was tradeable. This is what the 0730 start is for, to ensure there's some action.
B. SS short @ 38.2 (got this one, but managed poorly)
C. Bull EP, Long at 21EMA into 252EMA, missed had quit for the AM.
D. CBPL into 23.6 (got this one but messed up the exit).
E. HM off 23.6 into 38.2 area
F. HM off 23.6 into 38.2 area
G. SS @ 21EMA
Notes:
Fault, I saw trade A but didn't take it because I was trying to obey my rules. But volume had ticked up prior to it so I could have traded it. Volume is more important than a precise time ATG
The only candles I can trade with no confirmation are Hammers (HM) and Shooting Stars (SS), provided they're at the top or bottom of a move, or on S/R. All other entries must have touched an S/R area and got confirmation. if long CAPH (close above prior high), if short CBPL (close below prior low).
You've got to exit a Short when price CAPH, and a Long when price CBPL. Exits ATG
You've got to track the low of each new high (long), and the high of each new low (short). TSL ATG
You've got to re-realize that there's nothing wrong or scary about taking small losses. Psych ATG
You've got to accept that price action will tell you what to do. Psych ATG
Summary: In all honesty I didn't feel like trading today, I just didn't have the enthusiasm, I was up late last night with family stuff but I felt like I was being a pussy so traded. The positives are the ideas were right ( trading off the stretches, looking for bounces through and from S&R) but my execution was appalling!
Today's poor result, was a product of my rushing, not having patience, lacking confidence and enthusiasm but these were all a by-product of my exhaustion (I can't trade when I'm tired!).
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