PL: R+1.7 £+34.28
Summary: Another easy start. First trade I got in a little early... Despite price meeting the prior RLH the doji trigger should have clued me in to waiting a little longer, c'est la vie, it was still "technically" correct. The exit on trade 1 was a disaster, I was basically concentrating so much on stubbornly sitting through the pain of a PB/not getting shaken out I stopped prepping/reading what price action was doing (hitting an area of supply/1.36 and reversing?!). This stubbornness lead to the missing of the possible CT short at 2 (however as there was no TLB yet it would not have been technically correct). But I finished with a nice with trend trade at 3, although with a discretionary exit(1:2). This was in no small part due to the lingering feelings left over from trade 1 where I felt I had been pushing my luck. But this was not the case at all as price was still far away from meeting the next area of supply and so holding would have been the correct action (at least I let some run).
Green Arrows Entries, Red Arrows Exits.
Series of HLs = initial bias Long, expecting at least a touch of 1.36
1. Long on PB to prior RL high. Entered on doji, could/should have entered or added to position when 1st PB deepened (at least I didn't get shaken out). Exit late as was concentrating so hard on not getting shaken out of PB around 1.36 I stopped reading/prepping price? Good Initial Prep, Okay Patience, Good Discipline, Poor In Trade Prep, R-0.3
2. Missed this "obvious" exit of 1 at 1.36 as I was concentrating so hard on not getting shaken out of a PB I stopped reading/prepping price?! NB this was not a short opportunity as there was no TLB.
3. Long on PB to prior PBL. Entry: MO, Exit discretionary 1:2. Good initial Prep, Good Patience, Poor In Trade Prep, R+1.9
Summary: Another easy start. First trade I got in a little early... Despite price meeting the prior RLH the doji trigger should have clued me in to waiting a little longer, c'est la vie, it was still "technically" correct. The exit on trade 1 was a disaster, I was basically concentrating so much on stubbornly sitting through the pain of a PB/not getting shaken out I stopped prepping/reading what price action was doing (hitting an area of supply/1.36 and reversing?!). This stubbornness lead to the missing of the possible CT short at 2 (however as there was no TLB yet it would not have been technically correct). But I finished with a nice with trend trade at 3, although with a discretionary exit(1:2). This was in no small part due to the lingering feelings left over from trade 1 where I felt I had been pushing my luck. But this was not the case at all as price was still far away from meeting the next area of supply and so holding would have been the correct action (at least I let some run).
JMF3: "It's not easy , but it's not complicated" springs to mind... What I am doing is not complicated but once in a trade (despite there not being!) it feels as if I have to juggle a few plates. This is because my emotions spring up (the metaphorical second plate) that take my attention away from the the only plate that matters "focus on price action and the context it's in". My main issue today was in-trade-discipline, not continuing to prep/read price action when in a trade.
Green Arrows Entries, Red Arrows Exits.
Series of HLs = initial bias Long, expecting at least a touch of 1.36
1. Long on PB to prior RL high. Entered on doji, could/should have entered or added to position when 1st PB deepened (at least I didn't get shaken out). Exit late as was concentrating so hard on not getting shaken out of PB around 1.36 I stopped reading/prepping price? Good Initial Prep, Okay Patience, Good Discipline, Poor In Trade Prep, R-0.3
2. Missed this "obvious" exit of 1 at 1.36 as I was concentrating so hard on not getting shaken out of a PB I stopped reading/prepping price?! NB this was not a short opportunity as there was no TLB.
3. Long on PB to prior PBL. Entry: MO, Exit discretionary 1:2. Good initial Prep, Good Patience, Poor In Trade Prep, R+1.9
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