I didn’t notice gap close and sold a break of the TL with no retests. This mistake cost 4.5R. Good to know how effective my strategy is … when I apply it.
I can see how much I react to losses because they tend to occur in groups of four or five and when I look back at my trading, I see a mistake that has triggered into a succession of slightly ‘off’ decision making. Today was no exception and this was the sequence of events:
anorder to buy R2 and was stopped immediately, this isn’t a researched or known trade so I was frustrated that I had been overly influenced by the easy success that I had last time I used orders
- when that trade was stopped I sold, telling myself I was taking a break of R2 but luckily I scratched this trade because I do not trade breaks while price is outside the Bollis.
- then I started trading the 3Min Bolli which is perfect trading – except that I had missed the ex-gap below – I would never have bought 11pts above gap close if I had seen it (now I fill in ex-gap on my premarket prep so that I cannot make this mistake again)
- the move outside the Bollis at ex-gap close and a TL is perfect setup but I missed because I was upset about my R2 trade
I said from the outset that I use a principle of Kaizen in my trading, so each time this happens, I just write it up and aim to get back on track faster next time.