So here I am .. late for work. I was up late last night writing emails and studying and then I saw the time: it was way past midnight and I have to have 7hrs sleep. So I didn’t get up until 7:15. I do my breathing practice and I am at my desk by 8. But then I see this:
I have no plan for this. I am furious with myself that I was late and have missed the trade. Instead of trying to get on board using the shallow pullbacks I start looking for any excuse to short. I respond to impulsive PA with impulsive trading – in tune wth the market’s energy but in the wrong direction because in my emotional ADD mind it should not be happening and I’m not going to let it fool me into jumping on board. No way! I’ll short it just to prove my point. If I don’t it will go against me again and no way am I going to let this market trick me a second time!
I take 3min BB reversals where there is no set up (i.e. prices are not outside the BBs). I short a TL (shown in pink) that is supporting an impulsive-corrective sequence with shallow pullbacks, without looking for evidence of a turn such as lower highs, pulling away from the upper channel or a deeper pullback.
This is classic, impulsive and oppositional ADD behaviour triggered by feeling ashamed of my chaotic mind, overwhelmed by the amount I believe I need to change in order to survive and indignant at the world: ‘how dare it do that!”how dare it go against me like that!’
I saw some large green lines on the chart. The meaning those lines have is made up by me.. I am lazy! I am disorganised! I will never succeed!
In PA terms, there was a compression ON on the H1 chart. the big up move was rejected yesterday but it didn’t see a new low and burst out of the compression in line with the overall trend – just as it should do. And had I been at my desk at 7:50, I may well have caught the trade.
Understand and percieve the reality: there are some big green lines on my screen which mean absolutely nothing in themselves.
- Have a plan for this eventuality
- Smooth out routines as far as possible
- Develop an EA that will trade expansive moves at the open after a tight ON session.