Didn’t react to rejection of TL
This was a brilliant trade but I got excited when it just piled on the points and I was miffed that I hadn’t taken the same trade on the M1 chart.
Solution: (1) trade the same break on the M1 with a tighter stop (2) have in mind what I will do at the next TL (3) have the ranging in scenario in mind and take more of the trade off when I see a fast move into the TL and then a rejection.
Mindset: it’s a fast move + it’s already up 80 pre-open = take at least half off and
Trade plan, be at desk at 7:20 as I miss moves otherwise.
The TP was a mess – I used a 20pt SL but took 25% off at +10. How did this come about? My settings and automatic close templates are a mess but more to the point, I hadn’t decided to take the trade IF I saw a rejection of that TL – had I done this, I could have planned an entry to get the correct