The open this morning was interesting. You can see that I noted on the prep that the 1027.00 support area was 'weakened" by the overnight extension failure at 1036.50 resistance.
However, my visualization arrows displayed my read (which is often accurate and pure). I visualized the support holding but essentially used the failed extension high from the Euro session as a "filter".
I wanted confirmation to take the long. A pump fake or even a micro pullback would have gotten me into that trade.
My instinct told me that it was good but I did not act. This was not a total failure via hesitation but I have to note what happened because this trade was able to be captured. I need to hit these if I want to reach my goals.
I also wanted to note that after yesterday's near perfect read and execution and having an interview with a trading website after the close (more on this next week) I was in a daze by the evening.
I went to work out late and then went home. The first thing I did when I got home is go to my workspace.
When I sat down I realized that I was no longer in "the zone" I was in earlier. I lost sight of the thought or mindset that had allowed me to be clear and confident throughout the day.
I think this carried into today a bit and contributed to missing the prime AM setup.
I could feel on the way to work yesterday that I was extremely focused and likely to have a positive outcome.
I was still clear headed and confident this morning but not to the extent I was yesterday. I need to figure how to be in yesterday's mindset more consistently.
I did however get back into the "zone" about midday today.
I was about to go to lunch after a good short setup I was tracking did not complete. Then I decided to stay and hit a long breakout. I was absolutely clear about what I wanted to do even though the trade was a bit unusual for me.
It worked out well and turned a missed opportunity into a respectable day. I saw the setup (and felt it). Then I executed. I need to execute all the setups I see and feel. That is it. Just execute.
I need to continue to remind myself that if I execute everything in my plan, the chances of a long and sustained negative outcome are virtually null.
This may sound overconfident or arrogant which always leads to a bad outcome in trading but I do not believe it is.
I believe it is having an understanding of my capabilities and something that needs to be believed in so I can push the button under pressure.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.