Monday is a losing day for me and I want to know why. I am going through the trades on Monday 10th Dec and I see that the first two trades are impatient entries with no setup.
I am obviouly totally pissed off that the market has risen since the futures open but I am not on board. Even though that anger/fear is below awareness, the trading shows me that I am wanting some kind of revenge here.
Now it seems I am even more pissed off – but can I feel it? Am I aware of it?. There is a nice setup to fade S2 so I …. sell the break and when that gets stopped I go again – reacting to the big red bar.
So it seems I continue trading setups that are not really there.
So now I have made six trades without proper setups – actually mistakes although I document them as the trade I thought they were – or wanted them to be – so that I can see my progress on each
So how did I end the day -2R after this calamity?
I took some better trades… including a perfect 3Min BB setup on the afternoon session. These were the trades made after 11:00 which brought the day back from the brink
10:04 Sell x 96 @ 10687 | 169 Fade | P&L = +0.7R
10:14 Buy x 48 @ 10701 | 3P HLR | P&L = 1.1R
10:42 Sell x 81 @ 10712 | 3Min Bolli | P&L = -1R
15:23 Sell x 81 @ 10754 | 3Min Bolli | P&L = +1.7R
The losing trade in this part of the session was a weak 3Min Bolli setup –
So this is a new concept I can use – as I continue to trade and to go through this process I can define which setups aren’t worth bothering with and which ones should be traded at double risk.