P/L: £-21.90 R -1
SUMMARY
Despite loss, a better day as managed to break this bloody cycle of discretionary exits. Prep was good until I started marking up my charts for the blog post, instead of the read and missed the LH at 0 everything screwed from here (this was partly because this my last day trading this year and I was rushing to finish). I also need to be faster to ID and be more respectful of BW. Respect BW, only mark up chart to read while trading, add extras when completing blog post.
Waiting on action. I have a hankering to get short into the prior low (625), then get long off it as it looks like it might create a W bottom there but I haven't had the necessary action to allow me to start shorting (TLB-LL-LH) I've only had a TLB + LL.
TLB - LL - LH puts my bias on short side
1. BW,Poor Prep that I kind of missed / didn't give enough strength too. and entered after it at...
2. LH short after confirmed downtrend. Prep good, Patience poor (didn't wait out BW), Discipline Okay (should have been out as soon as I noticed mistake)exited at a small loss although dilly-dallyed on the exit getting mesmerized by the fluctuations in price . R -0.2
0. Missed this LH! WHICH WOULD HAVE CHANGED EVERYTHING FOLLOWING, In reality price then made a TLB-HH-HL which is my trend reversal so I would have only scalp shorted 4 and would have got long at 5.
3. TLB. but still have a bias on short as need a HH-HL. Poor Prep missed prior LH at 0.
4. LH short, (actually a HH short because of 0)didn't like the following action, but determined to hold though the 10mins of pain I've been experiencing and break the habit of discretionary exits. Prep poor missed LH at 0, Patience Good, Discipline Good R-0.8
There had now been a TLB-HH-HL = Long
5. HL. but no TLB-HH-HL Poor Prep missed 0 so was valid, Good Patience, Good Discipline.
PINK ellipse is BW marker for me while trading. Sorry hope chart a little easier to read now.
SUMMARY
Despite loss, a better day as managed to break this bloody cycle of discretionary exits. Prep was good until I started marking up my charts for the blog post, instead of the read and missed the LH at 0 everything screwed from here (this was partly because this my last day trading this year and I was rushing to finish). I also need to be faster to ID and be more respectful of BW. Respect BW, only mark up chart to read while trading, add extras when completing blog post.
Waiting on action. I have a hankering to get short into the prior low (625), then get long off it as it looks like it might create a W bottom there but I haven't had the necessary action to allow me to start shorting (TLB-LL-LH) I've only had a TLB + LL.
TLB - LL - LH puts my bias on short side
1. BW,Poor Prep that I kind of missed / didn't give enough strength too. and entered after it at...
2. LH short after confirmed downtrend. Prep good, Patience poor (didn't wait out BW), Discipline Okay (should have been out as soon as I noticed mistake)exited at a small loss although dilly-dallyed on the exit getting mesmerized by the fluctuations in price . R -0.2
0. Missed this LH! WHICH WOULD HAVE CHANGED EVERYTHING FOLLOWING, In reality price then made a TLB-HH-HL which is my trend reversal so I would have only scalp shorted 4 and would have got long at 5.
3. TLB. but still have a bias on short as need a HH-HL. Poor Prep missed prior LH at 0.
4. LH short, (actually a HH short because of 0)didn't like the following action, but determined to hold though the 10mins of pain I've been experiencing and break the habit of discretionary exits. Prep poor missed LH at 0, Patience Good, Discipline Good R-0.8
There had now been a TLB-HH-HL = Long
5. HL. but no TLB-HH-HL Poor Prep missed 0 so was valid, Good Patience, Good Discipline.
PINK ellipse is BW marker for me while trading. Sorry hope chart a little easier to read now.
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