- Did not consider overall market conditions
- Peewee Paperhands
- Trading based on 1m instead of 5m
- Traded Illiquid Contract
- Did not protect 50% of profits
- Went against trend on larger time horizon
Overview: A bulk of your technical mistakes were trading using 1m for confirmations rather than 5m. Other than that your mistakes were emotional ones, letting the loss of the beginning of the day affect your mindset & performance the rest of the day, trading greedily, trying to make up for prior losses. You must have faith. You have the stats to prove to yourself now that if you just take quality trades, only good trades, you could make the money you’re looking to make, right now, as you are, as you have been trading. If you just trade WELL you will reach the goals you have. It really is as simple as that now and you have the stats to prove it. The trades you’ve taken in which you’ve followed you plan, trusted your levels & executed, over the course of 15 trades you’ve been disproportionately profitable. Take GOOD losses and trust that over a number of trades you WILL come out on top
-Trade 1 Mistakes: Did not consider & take into account that market was at all time highs & likely to deliberate. ‘ The mistake was not holding fast to the distinction of this being a scalp, treating it like a day trade.Could have gotten out when the trade didn’t push up immediately, as you were expecting. Given that your plan was to scalp, when the trade did not show continuation you could have exited, but you wanted to see if a level below would hold, and had determined to do so before the trade. This was a challenge though, as there was choppy action here and sometimes all it takes is waiting for a level to hold, so all in all, I’m glad I did this.
-Trade 2 Mistakes: Paperhanded ness & did not give trade time to play out. Trading on too short of time frames & getting shaken out by 1m price action
-Trade 3 Mistakes: Could have entered at first break of level prior, Traded illiquid contract. Should have checked liquidity prior.
-Trade 4 Mistakes: should have protected more profits in choppy market, but could not have known that price would not push to next level. did not let winner become loser
-Trade 5 Mistakes: This was a bit of a chase, you were a little late on the play
-Trade 6 Mistakes: Went against larger trend, used pattern on 1m to justify entry, trying to make up for prior losses & trading poorly as a result. bringing emotion from past trades into this trade. over trading.
-Trade 7 Mistakes: Should not have been in this trade
-Trade 8 Mistakes: Did not protect 50% of profits out of greed and wanting to make up losses This was a good enough entry but you were greedy and did not protect profits even though you were given 2 solid chances to do so. Should have taken profit when I was profitable.