Friday 14 November 2014

10-14th November 2014: R-1.1 (Some Confusion, Some Anticipation and Trading Overtired)



Monday: Small drop in PL, confusion on SARing at a TSL, turns out I can. Would have been profitable had I.

Tuesday: First upturn in PL, simply followed the plan and shorted a LH at R + 20EMA

Wednesday: Failed to take any trades. Anticipation was caused by passing on a rarely traded CT Short. Retuned how I thought about taking CT trades (It's good to take them because the more experience I build with them the more a part of my arsenal they'll become). Would have been V profitable had I just traded the plan.

Thursday: Second upturn in PL, again simply followed the plan buying a HL at S+.00. Highlighted the importance of getting convergence on my trades.

Friday: Big drop in PL, as failed to follow the plan due to being over-tired and emotions took over rationale. Would have been profitable if I'd just traded the plan!

Summary: The Plan is profitable, I just failed to follow it! I've got to stop trading Friday morning's as I am over tired and struggle to follow the plan. Maybe when I am successfully following the plan for the entire week I can work it back in. Getting an extra reason to get long or short helps trade IE Support/Resistance + (20ema / .00 / .50 / Y Hi / Y Lo)

Goal for next week: Focus solely on what you need to do to make each session successful....
Follow the plan. Never argue with what the High's and Low's say. If you do, don't enter (you will be fighting the market)! Get convergence on entries S/R + (20ema / .00/.50/ YHI/ YLO) . Be Realistic with PTs. Keep updating charts in trade! Be aware that after a new level prints (high/low) its opposite can from very quickly after (low/high). Continue to trade should I go in the red, SAR's may not get me completely back in the black but they sure get me near. Let my trade plan and orders play out or I risk the very real chance of over-trading.

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