Matcha,
There is nothing wrong with the trade that you executed today! Get it,â¦there was nothing wrong with that Long trade! However, 6 bars after your loss 0855, the chart clearly spoke to you and said: âI am now in a potential downtrend with this LL Pivotâ.
Had you been mentally prepared, you would not have missed the short off the low of the up bar at 0855, or the Short off the low of the up bar at 0940, or the Short off the low of the up bar at 1005. All of these trades suffered little or no heat, as the market continued to make LLâs & LHâs in a downtrend, just as it told you, and just begging to be Shorted on each of these up bar PBâs!
Lesson learned #1: You are not as yet âThinking in Probabilitiesâ.
Lesson learned #2: You are not exercising a âTechnical Mental Routineâ to maintain focus on what is happening right now on your chart.
Lesson learned #3: You are not as yet âTrading what you see, not what youâre thinkingâ. Execution is a learned skill set.
Mentally, you allowed a single trade frazzle your winning program. You momentarily lost both your confidence and your perspective. By the way, the 3 Shorts, had they been executed, would have had you positive on the day, even if you took the last one at 1030. This is what "Series Thinking" and âThinking in Probabilitiesâ is all about. Trade what you see, not what youâre thinking. During the trading session, your focus is to âexecuteâ. Save your thinking and analyses for after market hours.
This is also what Redneck is telling you when he said above; Sometimes these other traders step inâ¦.sometimes they donâtâ. The point is, you never know, but what is more important is that, âGirl, you donât need to knowâ! Your focus needs to move from its current trade-by-trade perspective, to a âSeries of trades perspectiveâ.
You need to develop a mental routine and technical context for executing trades, that allows you to âstay with the current evolving pictureâ. I donât believe you do this as yet. If you did, how could you lose âinternalâ focus?
Iâm talking about a Mental Routine and Technical Context similar to, routinely saying to yourself;
âWhat is the market in right now? Is it LLâs & LHâs in a downtrend, then Iâm looking for an up bar PB to Short".
"Or is it HHâs & HLâs in an uptrend, then Iâm looking for a down bar PB to go Long".
Or are we in a mixed bag of both, Consolidating in some form of Triangulation within a Trading Range, in which case Iâll politely SOH.
Yes, you probably need to do some technical work on improving your Shorting technique. But you also need to start developing your mental faculty with using both focus and discipline. Both these are learned Skill sets, and are absolutely essential for the professional. You are on the right track girl, and you have got what it takes! Lets work both hard and smart, ok.
Tomorrow is,.........yet another chance to be great. Don't waste it.
