Hope everyone made it through OEX ok. Next week we have FOMC. I do not plan to be around much , if at all.
This past week I found the trading to be terrific and fairly easy to follow....maybe I just guessed right....who knows. I felt very in tune with what the mkt was showing me and it made most of my trading decisions relatively easy.
One of the areas that I am always trying to improve is when not to trade in "protection mode". There was no change in what I was seeing or doing yet I found myself exiting trades w/o getting the proper exit signals. I had already booked some nice points in the AM sessions and found myself letting go of very nice trade setups for no apparent reason that I can explain other that not wanting to "give back" anything.
The strange thing about it is, I was not in trades that were against me. I was merely not giving my runners much room to work despite the fact I was not getting any reversal signals. I do not remember feelings of fear, anxiety etc., so I am trying to correct this bad habit.
I have a few techniques that I have used to advance to this level and I will take necessary steps to implement them during this phase of my trading. This is not about being greedy, this is about trading the PA as I see it in front of me and dealing with the feelings/emotions.....subconscious or not, so it will not alter my trading plan.
This is part of the fine tuning process for me and is an ongoing task. I don't beat myself up, I just try to be as aware as possible of any changes, big or small, that have a negative effect on my trading and I try to correct them promptly.
Good Trading to all