Friday 29 November 2013

Grrrrrrr! A Bit of Progress

P/L: R - 1.34   £-30.82

Okay started today with a clearly defined method I have been developing but seriously simplified it yesterday (I will post it shortly and update my intraday method tab too).

I followed this "new" method of analysing price action and even placed 2 good trades... But ballsed them up by using an incorrect TSL method in the first and letting fear overwhelm me when my ISL was approached in the second. Of course both reversed immediately and went straight into theoretical profit as soon as I did this.

Believe it or not I really do know better than this. I'm knocking the rust off of a month not applying trading discipline and am aware of my mistakes.

Positives: taking good entries, very slowly getting back into the discipline required.
Negative: poor management of positions.

Series of LHs =  looking for shorts along DWTL RL/ EMA RL/ 2nd Entries
1.  TL/EMA RL Short. Exit discretionary TSL good trade. R - 0.46
2. TL/EMA RL Short. Exit discretionary good trade. R - 0.89



Summary:  Stop Thinking, Start Following (the plan). Or how I originally put it "follow the fucking plan!"

Grading trades is very useful!


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