Sunday, 28 September 2014

22nd-26th Sep 14: R+0 Miriad of Issues

Monday: Physiological issues. Head Sludge... really struggled to concentrate, missed 2 easy plays. Introduced warm up for body and mind.  Body = Callisthenics, Mind = hard sum before starting day, certainly helped rest of week.

Tuesday: Plan issues. Actually failure to plan. During my session I realised that I don't actually know what I'm doing! My guide had taken me all the way up to prepping charts but no further. I have now added planning trades off the levels and am writing them( the plans) on the charts. Which means I am not constantly flicking through the charts and exhausted when a trade finally appears.

Wednesday: Trigger Issue: I have only been trading off inside bars for about 6 months which is not an excuse for missing a trade , it is a lesson and have added to the plan/guide to visibly mark IB triggers on my chart so I don't miss them!

Thursday: Session Issue. missed 2 really easy trades because they occurred 15 minutes before my session starts. I have got more lax of late and need to start by 0800 rather than 0830 like recently.

Friday: No Setups off 20EMA. PA was just stuck in ranges and BW all session.

20EMA Thoughts: As for the 20EMA I am just going to let the removal happen naturally, like I did with  the 8SMA. At the mo it is more of a hindrance not having the 20EMA so that is a clear sign that for the time being it needs to stay and as there are clearly trades to be had I shouldn't sweat it. This is not to say that I am not striving to get my charts naked long-term but the more pressing issue is to get some trades going and see if I can with the above changes start to get in the black.

Summary: It's been an enormous week really. I have gone from thinking most of my problems have been psychological (which in part they were), to realising they can't be entirely if I am getting up and doing the work! So thinking they were then physiological (which in part they were) to finally seeing that there was also plan failure in terms of it not guiding me throughout my session. Ultimately in all three there were issues, these 3 things I am going to call the "3P's" (Psychology, Physiology,Plan Failure) as identifying each of them as potential areas problems can begin this week has been most useful.

1. Get up work and warm up Mind and Body
2. Prep charts and write trade plan for each pair on charts
3. Start watching by 0800GMT
4. Chillout until one the plans begins to setup
5. Mark potential triggers on charts particularly IB's
6. Take all setups they are high prob!
7. Should they fail SAR as this is high prob!
8. Issues? check the 3 P's (Psyc, Phys, Plan)

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