- Did not adhere to EXIT PLANS
- Did not have faith in my levels
- Pewee Paper hands
- Did not Define Time Horizon prior to Trades
Overview: Felt like the bulk of my mistakes, particularly towards the end of the month, had much to do with not holding onto the trades I’d done so well to prepare for and was, for the most part, correct on. I did thorough analysis but did not trade off it when the time came. I did trade off the entries, which is good, but when it came to exits I did very poorly. I also let a significant chunk of paper gains elude me, which, in most instances, would have been cured by having faith in my initial analysis & exiting according to it. But again, as I noted in week 26, I did well to protect profits on every trade and never let winners become losers after my first week.
Mistakes | Week 23 | 2021
- Did not make or follow explicit game plans.
- Failed to protect profits.
Mistakes | Week 24 | 2021
- Did not trust levels. Did not have faith in my levels
- Did not protect paper gains
- Did not have explicit candle by candle plans for exits
Mistakes | Week 26 | 2021
- Did not protect sufficient profits. Establish explicit rules for protecting profits.
- Peewee Paper-hands. Employ Onyx stone.
- Did not Trust Levels. Did not have faith in my levels
Overview: While I walked away green on all of my trades, I left a bulk of the paper profit on the table due in large part to not giving trades time to work out & not trusting my levels. While I’m proud of the work I did to cure the last major mistake I was making, which was not protecting paper profits at all and letting winners become losers, I’ve now graduated on to the next set of skills to refine: namely getting the most out of the good trades that I do find myself in. It seems that the path forward to achieving this goal is having more faith in my technical analysis & letting trades play out. Green is green, and my taking profit on the trades I did was an act to protect my mental capital as well as my actual capital. So, I am satisfied with how this week ended, & also see the path forward in continuing to refine my trading acumen.