Week in Review:
Monday
A downtrending day where I kept buying in 2 fairly huge bear wedges. Had I taken some time off my screen, I would have had the opportunity to think about my thinking process while trading. Decisions I made would have been much better, especially those related to profit-taking.
Loss: USD 425
Tuesday
Ranging day with upward momentum where I had waited for my setup even though I was at my desk the entire day. I guess non-down days just make me a more patient person.
Profit: USD 225
Wednesday
Ranging day with upward momentum during the Asia & Europe hours. The most notable trade was the one that I chased during the US session, when the momentum has shifted from bullish to bearish, and after I had missed my favorite setup (D's fault! He's a major distraction!)
Profit: USD 262
Thursday
Asia and Europe Session:
PERFECT ranging day - channel was perfectly horizontal. It was supposed to be the best day of the week. I felt so in sync with the market I got cocky and thought I could aim for the sky. On a day that I could apply my scalping skills beautifully, I started it swing trading a position for a 8-point profit instead of taking my usual 1 to 2 point profit in the 6E. Realized my folly after being stopped out for nearly the amount that would have required me to close shop for the day, I went back to scalping. I was in 2 point profit immediately before taking the 2.7 point loss in the first trade. The remaining 4 6E trades were perfect. I have to say they felt EASY. Shows how trading only on my type of day can significantly improve my bottom line. In fact, going forward, I'm going to put size back on on days like this.
US Session:
Uptrending market. Missed the opening bell and my MOST MOST favorite setup. D's fault again!! He got home late, and instead of focusing on the market, I started telling him about my day, and listening to him tell me about his. I missed my signals by mere seconds. Once I miss a signal, I don't chase. So I thought. I ended up not chasing that particular setup, and merely chase any upmove instead. BAD decision. Because I was in trades that I wasn't comfortable with, my execution was CLUMSY and for that I lost POINTS.
Profit: USD 87
Friday
Asia & Europe Session
Ranging day with DOWNWARD momentum. Sat in front of my screen since 7am local time and started CHASING market in wave 4. Terribly stressful session where I saw profits disappeared and became losses. Recovered some at the end of the session.
US Session
DOWN, DOWN , DOWN session. I traded my setup, but simply refused to take profit that was realistic for a down day (I was buying, as usual). Then I refused to give the trade the room it needed to move (I hadn't used the appropriate stop for my signal - it was a day with huge candles and if I choose to trade, I'll simply have to use a wider stop).
Loss: USD 400
A downtrending day where I kept buying in 2 fairly huge bear wedges. Had I taken some time off my screen, I would have had the opportunity to think about my thinking process while trading. Decisions I made would have been much better, especially those related to profit-taking.
Loss: USD 425
Tuesday
Ranging day with upward momentum where I had waited for my setup even though I was at my desk the entire day. I guess non-down days just make me a more patient person.
Profit: USD 225
Wednesday
Ranging day with upward momentum during the Asia & Europe hours. The most notable trade was the one that I chased during the US session, when the momentum has shifted from bullish to bearish, and after I had missed my favorite setup (D's fault! He's a major distraction!)
Profit: USD 262
Thursday
Asia and Europe Session:
PERFECT ranging day - channel was perfectly horizontal. It was supposed to be the best day of the week. I felt so in sync with the market I got cocky and thought I could aim for the sky. On a day that I could apply my scalping skills beautifully, I started it swing trading a position for a 8-point profit instead of taking my usual 1 to 2 point profit in the 6E. Realized my folly after being stopped out for nearly the amount that would have required me to close shop for the day, I went back to scalping. I was in 2 point profit immediately before taking the 2.7 point loss in the first trade. The remaining 4 6E trades were perfect. I have to say they felt EASY. Shows how trading only on my type of day can significantly improve my bottom line. In fact, going forward, I'm going to put size back on on days like this.
US Session:
Uptrending market. Missed the opening bell and my MOST MOST favorite setup. D's fault again!! He got home late, and instead of focusing on the market, I started telling him about my day, and listening to him tell me about his. I missed my signals by mere seconds. Once I miss a signal, I don't chase. So I thought. I ended up not chasing that particular setup, and merely chase any upmove instead. BAD decision. Because I was in trades that I wasn't comfortable with, my execution was CLUMSY and for that I lost POINTS.
Profit: USD 87
Friday
Asia & Europe Session
Ranging day with DOWNWARD momentum. Sat in front of my screen since 7am local time and started CHASING market in wave 4. Terribly stressful session where I saw profits disappeared and became losses. Recovered some at the end of the session.
US Session
DOWN, DOWN , DOWN session. I traded my setup, but simply refused to take profit that was realistic for a down day (I was buying, as usual). Then I refused to give the trade the room it needed to move (I hadn't used the appropriate stop for my signal - it was a day with huge candles and if I choose to trade, I'll simply have to use a wider stop).
Loss: USD 400
