Trade plan and Price action review: (Price action) Market opened up and completely took back all the gains from yesterday. This was possible going into the day because we opened above value and the b shape profile said the market was happy at the lower prices. The day turned into a trend type day and we kept putting in lower lowers throughout the day. Nothing has really changed this week as we are still inside the balance area on the chart (1253-1293).
(Trade plan) My trade plan going into the day was complete SHIT!!! It lacked focus and expectations. I need to outline levels where i can be bullish above or below and expectations if price goes one way or another. Not having the time in the morning has really hurt my routine and i can't get here any earlier than i am. I could start doing more at home after work but damn when will i ever have a life. I guess i have to make sacrifices for now if i want to get this shit going full time. I need to also have my developing trade plan going throughout the day as well. I have stopped doing it because of work and not having the time. I really need to keep doing that so i can keep developing my market feel and reads.
Trades review: (Hypothetical)
(Actual) Not gonna waist my time going over these trades. They were so bad that I would just prefer to forget them lol. Any way I tried to get long when I saw a perfect short on the first trade. On the second trade I tried a long again and was stopped. We weren’t even at the bottom… The third trade I tried a long again after we bounced off the bottom and I got in front a little bit but we reversed and I was stopped again. Man what a bad day. Hopefully that will be the worst of them for a while.
Conclusion of the day and thoughts going forward: OK so this week was my worst week in months. I did really bad this week and I can only conclude that I didn’t follow my rules. I didn’t analyze correctly and I took trades that I usually don’t take. I have no answer for the reason why other than my work issues. I don’t want to blame work and I’m not because ultimately it is my decision to pull the trigger. So that means if work is interfering then I have to recognize that and adjust my mindset accordingly. Will do better next week.
BSO Points for the day: -8
Winners: 0
Losers: 3
Scratches: 0
Grades for the day:
Following my plans: F
Following my rules: F
Emotions in check: F
