These trades were all over the place today. The principle is very good so I will continue to practice them, but today saw two big trading mistakes that need to be eradicated and both are symptoms of impulsive behaviour:
- Took a trade with a 10pt stop while the market still had a 8pt spread… doh..
- Reacted to this by selling again without looking at any candle patterns which turned a winner into a loser.
But the good news is that I did get the correct entry in the end and it banked 2R. I used a scalping TP strategy though because I was 2R down but also because the futures range was tight and there was no sign of a trend developing until the cash open.