PL: R-3.6 £-79.69
Summary: Despite acknowledging that I should start at/on 0800GMT yesterday, I started prep early out of habit, then saw trade(1) and worried it might be "the one". This triggered a load of pre-market/low volume and poor patience overtrading (1-5) I disguised as SAR. Actually I was entering (2,4,5) in "thin air" with no S/R reason (I must get short after a touch of R and long after a touch of S, even on SARs). .... A big volume spike at 0715GMT got me fearful volume had stepped in BUT this was a complete overreaction triggered by Mr Greed and Mr Fear (of missing out). The UK and EU haven't changed their opening times!
Trade (6) should have been my first trade and I gave up early, seeing but avoiding trade 12 - this of course made 2%. In general I could hold on to winners longer but I'm not going to rush to fix this, because that will only mean adding "ifs and buts" to my plan which would be detrimental... The fact is IF I had just traded ALL the trades after 8am I'd be up 1.6% which I'd be very happy with.
I am not upset about today's results. It can be explained away by the pre-session trading and lack of patience there in. I did spot and enter all of the best trades (6-12) with the exception of 12 that I just failed to enter. GOT TO KEEP WORKING PREP, PATIENCE AND DISCIPLINE GEORGE!
Prep: drew S&R from PBL, RLH, Ranges and rng MPs.
Trades 1-5 = Disaster, I was trading before the open on low volume and got whipsawed like lumber. I recognized this after (1) but apparently I'm a masochist!
1. Buy on touch of Rng hi/PC. Prep good, Patience POOR , Discipline good. R-0.4
2. SAR Short on tick blw 1. Prep POOR, Patience POOR, Discipline good. R-0.8
3. SAR Long on tick abv 1. Prep good, Patience POOR, Discipline good. R-0.4
4+5. SAR Short on tick blw 1. Prep POOR, Patience POOR, Discipline good. R-0.8 (should have been less (0.5) I accidentally added a position to this)
6. SAR Long on 2nd test (could be a REV) of Rng low/PC tick Prep good, Patience good , Discipline good. R-0.3
7. Short at PC Prep good, Patience good , Discipline good. R-0.1 (NB had I tracked only the bearish bar highs as my TSL i would have stayed in this)
8. SAR Long at PC/ Rng low Prep POOR (needed to update S), Patience good , Discipline good. R-0.1
9. SAR Short on tick blw prior bar. Prep good, Patience Good , Discipline good. R+0.3
10. SAR Long at 1.36 Prep good, Patience Good , Discipline good. R+0.3
11. SAR short at test of Rng high Prep good, Patience Good , Discipline good. R-0.8
12. (Missed) SAR Long (R+2)
Summary: Despite acknowledging that I should start at/on 0800GMT yesterday, I started prep early out of habit, then saw trade(1) and worried it might be "the one". This triggered a load of pre-market/low volume and poor patience overtrading (1-5) I disguised as SAR. Actually I was entering (2,4,5) in "thin air" with no S/R reason (I must get short after a touch of R and long after a touch of S, even on SARs). .... A big volume spike at 0715GMT got me fearful volume had stepped in BUT this was a complete overreaction triggered by Mr Greed and Mr Fear (of missing out). The UK and EU haven't changed their opening times!
Trade (6) should have been my first trade and I gave up early, seeing but avoiding trade 12 - this of course made 2%. In general I could hold on to winners longer but I'm not going to rush to fix this, because that will only mean adding "ifs and buts" to my plan which would be detrimental... The fact is IF I had just traded ALL the trades after 8am I'd be up 1.6% which I'd be very happy with.
I am not upset about today's results. It can be explained away by the pre-session trading and lack of patience there in. I did spot and enter all of the best trades (6-12) with the exception of 12 that I just failed to enter. GOT TO KEEP WORKING PREP, PATIENCE AND DISCIPLINE GEORGE!
Prep: drew S&R from PBL, RLH, Ranges and rng MPs.
Trades 1-5 = Disaster, I was trading before the open on low volume and got whipsawed like lumber. I recognized this after (1) but apparently I'm a masochist!
1. Buy on touch of Rng hi/PC. Prep good, Patience POOR , Discipline good. R-0.4
2. SAR Short on tick blw 1. Prep POOR, Patience POOR, Discipline good. R-0.8
3. SAR Long on tick abv 1. Prep good, Patience POOR, Discipline good. R-0.4
4+5. SAR Short on tick blw 1. Prep POOR, Patience POOR, Discipline good. R-0.8 (should have been less (0.5) I accidentally added a position to this)
6. SAR Long on 2nd test (could be a REV) of Rng low/PC tick Prep good, Patience good , Discipline good. R-0.3
7. Short at PC Prep good, Patience good , Discipline good. R-0.1 (NB had I tracked only the bearish bar highs as my TSL i would have stayed in this)
8. SAR Long at PC/ Rng low Prep POOR (needed to update S), Patience good , Discipline good. R-0.1
9. SAR Short on tick blw prior bar. Prep good, Patience Good , Discipline good. R+0.3
10. SAR Long at 1.36 Prep good, Patience Good , Discipline good. R+0.3
11. SAR short at test of Rng high Prep good, Patience Good , Discipline good. R-0.8
12. (Missed) SAR Long (R+2)
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