In reviewing my winning trades, I see I am not letting my winners run. For example, I look back on my past trades, and the times I have been right in price direction, price would have kept moving in my favor if I did not kill the trade.
To make changes, I am now only getting out of trades using a limit order, no panic killing of the trade because I worry it will now reverse and lose not only my profit but then hit my stop loss.
Also, my trade tonight, I allowed the trade on ES futures to go the full 2 points instead of 1.5 points. Of course how many points depends on how far the market can move within the bounds of R and S.
My big losses have to do with over trading / revenge trading. When I do a good trade at night, I will shut down the computer, and then sometimes trade when I wake up in the morning. When I do a bad trade, I will look for another trade right away to try to either make back the loss or go for a profit, and then take another loss. I can then end up doing 5 bad trades in row.
Sometimes I am able to stop then, wait a couple hours and then go back and make a couple winning trades, but I am then still down for the night a higher amount of loss then my profit for a good night.
So to make a change, I need to just take a loss not move my stop and then wait either the next day to do a trade or wait the next night.
Of course if you are a major support and trend has not reversed, then I need to go for more then 2 points of profit.
Also, my other big losses occurred because my trade setup was far from support and then I added another contract closer to support and then both contracts are stopped out for a loss.
To avoid this issue, if I do see a reasonable setup not close to major support to say go long, I need to just use a standard stop not keep averaging down. Also, many times if price is far from support and my standard stop gets taken out, it would be better to trade short since trend may have reversed if you are still far from the major support level.