Tuesday 14 January 2014

READ and thoughts

It's my birthday today and I've felt rather pensive. I'm not depressed, just thoughtful. I think this morning's trading added to the thoughtfulness. After my initial AM post  I had all these plans to go over all my trades from the past week and see how they would have worked out trading tick vs close confirmation but I haven't done any of it and probably wont. I know tick is better than the close and I know price context is better than tick (but that's still a way off for me). So what's the point? I don't actually know I've done all day. pfffh.

Today was the best I have ever traded (until I let emotions take over), it's ironic that despite flowing with the market better than I ever have I have a negative a PL to show for it. Maybe it's not ironic, it may have been my best trading (flow) but it wasn't my best effort,  I could have preserved and should have.

Winston Churchill “Sometimes it is not enough to do our best; we must do what is required”.

Sod it, I'm gonna have drink...  that's required!

NB some Q's in the last post if anyones got time to have a look I'd be v grateful. Worried I was overtrading the LON session today etc...

Here's the read. I'm trying to trade between S&R levels. PBL (pullback lows) RLH (Rally highs) and PC (Polarity Changes /  you know when S becomes R and vis versa). When an area is broken I must expect the next level to be hit before price will be able to make a valid reversal attempt so I must hold to that level (tricky emotionally).

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