Have been thinking a lot about what everyone said these days. Slept late working on the trade plan.
Woke up early this morning. First routine is always read the trading plan. Today I read the 3 lessons from yesterday, out loud. I needed to exercise the âtechnical mental routineâ just like an alcoholic excise some self-help program every day.
The result is not ideal. I felt really bad when I disappointed KDASFTG. I just once again missed a few good with trend trade. I guess I didnât balance the mental routine and market context very well. And I over traded. But I did take all the entries with less hesitation and less over thinking. And I viewed each setup as an individual set up like I just logged on the computer. Probably a little baby step forward from mental perspective. Some of trades are bad, some were OK. The exit is not great.-something I will worry about later. Todayâs volatility also shook me out from a few trades.
I hope my chart is clear enough to read.
Trade 1: 07:50. Long. Failed break out. It was a trading range at the open. I think if I were to do some fade failed breakout trades, I should focus on the prevailing trend side. In this case I should fade the upper range with bear if the set up is valid. The other note to myself is itâs always low odds to buy after a series bear bars-the selling pressure is a bit too large. I got out when I see no follow through and the follow through bar suddenly turned out to be a bear outside bar.-4tk
Trade 2: 8:01 flip to short. The volatility near the LOD is a bit rich. I was shaken out by the bottoming tails at the LOD. -7tk
Trade 3: 8:25 long, another failed BO with YTDâs low. Wedge overshoot. The following breakout bar was nice. It gave me a nice +15tk profit immediately. But since I was holding for at least 2 leg up so I didnât take the scalp profit. Scratched trade.+3Tk. Then I was too slow to flip to short side. It was a perfect L2 short set up that produced a nice +30Pt run downâ¦
After market broke down here. I will only short the pullback today unless there is a clearly reversal signal.
Trade 4: short on the minor pullback, continuation break down. Took profit too quickly. +9TK
Trade 5 and Trade 6 were both short that both were scratched out.
Then I was very exhausted. Stepped away from my desk.
When I was back market reversed at 11am. 12:10noon A pullback long sets up. But the risk would be +20pts. So I passed on the trade.
PnL:-$42, 6 trades. 33%winrate
Woke up early this morning. First routine is always read the trading plan. Today I read the 3 lessons from yesterday, out loud. I needed to exercise the âtechnical mental routineâ just like an alcoholic excise some self-help program every day.
The result is not ideal. I felt really bad when I disappointed KDASFTG. I just once again missed a few good with trend trade. I guess I didnât balance the mental routine and market context very well. And I over traded. But I did take all the entries with less hesitation and less over thinking. And I viewed each setup as an individual set up like I just logged on the computer. Probably a little baby step forward from mental perspective. Some of trades are bad, some were OK. The exit is not great.-something I will worry about later. Todayâs volatility also shook me out from a few trades.
I hope my chart is clear enough to read.
Trade 1: 07:50. Long. Failed break out. It was a trading range at the open. I think if I were to do some fade failed breakout trades, I should focus on the prevailing trend side. In this case I should fade the upper range with bear if the set up is valid. The other note to myself is itâs always low odds to buy after a series bear bars-the selling pressure is a bit too large. I got out when I see no follow through and the follow through bar suddenly turned out to be a bear outside bar.-4tk
Trade 2: 8:01 flip to short. The volatility near the LOD is a bit rich. I was shaken out by the bottoming tails at the LOD. -7tk
Trade 3: 8:25 long, another failed BO with YTDâs low. Wedge overshoot. The following breakout bar was nice. It gave me a nice +15tk profit immediately. But since I was holding for at least 2 leg up so I didnât take the scalp profit. Scratched trade.+3Tk. Then I was too slow to flip to short side. It was a perfect L2 short set up that produced a nice +30Pt run downâ¦
After market broke down here. I will only short the pullback today unless there is a clearly reversal signal.
Trade 4: short on the minor pullback, continuation break down. Took profit too quickly. +9TK
Trade 5 and Trade 6 were both short that both were scratched out.
Then I was very exhausted. Stepped away from my desk.
When I was back market reversed at 11am. 12:10noon A pullback long sets up. But the risk would be +20pts. So I passed on the trade.
PnL:-$42, 6 trades. 33%winrate
