Weekly Summary 211213

Intraday Weekly PL:£-54.54      R   -2.5

SUMMARY
Main issue this week was Prep and Discipline.  Messed with my prep method on Monday and Tuedsday. Managed to get back on track on Wednesday but then basics like not trading on SS/HM or after BW and not trailing my entry when a signal bar failed to trigger became the issue. Finally I slipped back into poor prep on Friday as I was rushing to finish the year. I also had a bit of problem with outcome bias on Thursday, but managed to reprogram an execution bias by Friday.
The lesson to me here is that Prep is just the most important thing. You just have to miss one LH to fuck the entire read or ignore BW once to take a bad trade that will knock out your wins.
Next year I will start with with my focus on Prep and Discipline/Execution bias (how best to execute the moment right now in front of me. prep it, wait, avoid it, trade it, hold it, exit it?)!

Trade summary... 5 (3 once back to original prep method) poor / 3 good
1 poor trade Monday because of trying out a new prep method can be forgiven. £-20.16
1 poor trade Tuesday because of trying out a new prep method can be forgiven. £-17.70
1 good trade on Wednesday £+34.02
1 poor trade on Wednesday not waiting for a RL to R (prep)£-14.52
1 good trade on Thursday but executed horrendously late (Prep) £-4.20
1 good trade on Thursday but discretionary exited (Outcome bias) £-10.08
1. Poor trade on Friday due to trading on BW/doji (Prep/Discipline)£ -3.90
1 Poor trade on Friday because of wrong direction poor prep £ -18.00
NET PL:£-54.54     R   -2.5
PL minus Mon and Tues new prep method trades £-16.68    R-0.75

POSITIVES
1. Reverted to Old prep method on Wednesday for more success
2. Better understanding of recent S&R being the places for entries and exits.

3. Despite the wrong trade I did hold through the until my stop was hit instead of discretionary exiting.
4. Better understanding of Prep,  Patience and Discipline.

5. Remembering Execution Bias

NEGATIVES
1. M & T Tried a simpler method of price action preparation today... that was too slow resulting in 2 bad trades

2. not waiting for a RL to prior R to short from. (Wednesday)

3. Thurday too late an entry by not tracking the inside bars when the initial signal bar was not triggered

4. Anxiety discretionary  exit due to outcome bias / loss aversion,  over longterm goal focus and execution bias.

5. trading after BW Not respecting BW

6. Missing a LH (Poor Prep!) 

7. Marking up charts for blog instead of for read during trading session

8. using a SS as a signal bar!

FIXES
1. Actually fixed by Wednesday by reverting to original Prep method PREP. Update Prep Method to orginal.
2. Need to mark up and update His and lows throughout session PREP Update Prep method to inc the use of S&R on setups
3. Actually had read about using an next bar as signal bar if prior signal bar doesn't trigger (inside bar entry?) as an entry but felt it was advanced. But this was the correct trade so i should have done this (thanks JMF3).  Start trading/ using next bar as signal bar if prior doesn't trigger (inside bars) as signal bars. Update Prep method to use subsequent bar as trigger if prior signal bar fails to trigger
4. Anxiety caused my discretionary exit which was due to my Outcome bias.  rather than Execution Bias. DISCIPLINE Update method (Psychology) to mention Execution bias
5. BW: this happened last week too.  I was bettr at IDing this week but I still didn't respect it.  Add to rules no trading after BW! PATIENCE/DISCIPLINE Add to Prep Method no trading after BW
6&7. The most important thing is PREP if you fuck the prep you will take shit trades. Emphasis that Prep of Price action (not blog) is the most important thing 
8. Add to prep method not to use SS / HM as signal bars.

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