It's for days like this one when I have to be fully focused, patient & disciplined so I can take advantage of the fairly wide range a "rara avis" for the last weeks. I have to admit that I traded with the wrong mindset today, I traded with a short bias (because of the unfinished business bellow current levels: single prints, NPOC, strong R, proximity of highs, lack of news, etc.).
I was very wrong from early morning instead of just going with the momentum, just trading with the flow and being dynamic & relaxed I made mistake after mistake.
This should be a good lesson for me and something I'll make sure not to repeat:
- trade & have no bias
- theres is no "should" in trading
- be dynamic & objective
Nothing more to say about today except the fact that once again I should practice PATIENCE, DISCIPLINE, have a good reason to go in a trade, HAVE A PLAN & TRADE THE PLAN.
The S/R levels hold fairly well during the day, so a plan based just on those levels, IB and price action could have been a winning one.
Ideal trades: after the IB was set in stone
- L 1138.75 pullback & continuation for testing IBH into R exit 1144.00 R
- S 1144.00 brake of s/R exit 1137.75 single print filled on the way down
My trades:
- S 1136.75 exit 1138.50 P/L -1.75 no patience, no plan & widened my stop
- S 1138.75 exit 1140.50 P/L -2.00 no patience, no plan & widened my stop
- L 1139.50 exit 1138.25 P/L -1.25 long from IBH, too early in trade and got stopped out, (didn't widened my stop)
after this mess I took a break, regrouped and I gave myself one last chance for the day
- S 1143.50 exit 1139.50 P/L +4.00 short at break of s/R=1144.00 exit at IBH
Net P/L: -1.00
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