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Ok double bottom at 12pm but didn't take. Took a short since action wasn't super bullish but poor entry, channel up was fairly tight so probability not that great also should've entered below the bar.
No more trades today. Account 2057 USD. P/L -25 USD.
Can you help answer these questions from other members on NexusFi?
Was looking to sell the hourly resistance; sold the big bear bar at 10.50am but started to second guess my entry and exited early. Then took another short which I also closed shortly after when the bar started to reserve back. Took a long at 11.20am targeting highs which failed (in hindsight was not a good long after tight bear channel). Gave too much room for this before closing.
Good
- Did not overtrade which has been a problem
- Was patient with setups
- Paid attention to levels
Bad
- Did not have the confidence to stay in a position when finally entered a good short setup on Friday - thought about the potential loss rather than price action and acting accordingly. Asymmetric losses vs wins - I give room to my losers but cut winners quickly.
- Traded with 2x size compared to planned (2 micros vs 1) - could've been the reason for bailing out on the short
Account below 2k USD IBKR minimum, added 1.4k more. Total now 3319 USD, P/L -200 USD.
Adjustment for next week
- 1-2 trades per day
- Size 1 MES, no exceptions
- Do not exit positions unless stop hit, planned level hit or reverse setup appears
Went against my plan buy buying what looked like might be a breakout - bought the top but since most likely TR held through and exited at breakeven. Could break out from here but prefer to reset and have another look around 12.30pm.
