CLICK HERE FOR VIDEO OF THE SEPTEMBER 10 BREAKOUT TRADE. 1 TICK FROM GETTING STOPPED OUT OF THE SECOND 1/2 OF THE POSITION.
I gave myself a yellow digital sticker today. A 2.5 point loss is not red sticker worthy after trading 75% winning percentage and 1.7/1 risk reward the past 2 weeks.
I have to give the trade a "stupid" rating because I took all the heat then exited with a small loss. This was just a break down in focus and determination after an intense week.
The trade was a bit outside my plan structurally but I knew it was a good bet. When it did not open up as quick as I thought it would, I started over analyzing and got concerned about the market contracting. I did not want to take a full loss on this trade so I folded prematurely.
I'm going to let this one go because it is not too big of a deal right now. Just a reminder of my most basic rule which is DO NOT EXIT TRADES EARLY FOR ANY REASON EVER.
Regarding the 75% winning percentage, it is actually too high. I would have had more profits with a lower winning percentage. I am not going to get into the math right now. I just need to note this because this is my real trading log.
Things I need to keep in mind for next week:
1. Trade everything you see and feel that is in your plan and let the odds sort it out.
2. Take all micro pullbacks to the long side at zones.
3. Take everything that you feel is right. Everything.
4. I need to think of a term to describe my assertion that if I take all setups within my plan as they come, the chance of a deep and sustained negative outcome is very low. I am going to label this concept "FULL EXECUTION". From now on we will refer to it as that.
5. Goal for next week is to accomplish full execution 4/5 days.
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