Sqa's Stage 1 Trading Journal

[sqa]

I'll try to get Last Week's notes written up (there's not much), but the notes for this week so far:

1) Don't fight a full D1 Retrace event.
2) Don't miss that a full D1 Retrace event happened until it's too late.
3) Actually pull the "ripcord" on trades that qualify. Still having problems with this. I need to get more clinical.

 

[sqa]

I'll explain yesterday's failure with a nice little chart.

The part that simply will not happen again: The retrace was the type of Trade I normally am targeting. I utterly missed that it *happened* until it was too late. I will not miss that again.

For a Monday-Wednesday Range that's 85% likely to be "Up", this should have been a Crystal Clear setup. I just botched it up. That type of entry is where I'll leave an Order waiting over night. Big, big failure on my part. Unacceptable to happen again.

 

[sqa]

Been a bit since I updated. Oops.

Well, this was Stage 1 on Yen. It highlighted what I simply have to work on: Order Block Prioritization, Market Structure and Take Profits.

Final tally was -131.4 on the 2 months. I was up a WHOLE lot more than that, without getting out properly. Which is probably what irritates the most.

On the psychology side of things, there are still issues to work out. My physical state will always be a battle, but I'm getting better at managing it. I need to take more time off/away from the Charts, as I do get too honed in, even if I'm waiting for 2-3 days for a setup to unfold. In Stage 4 (final setup, realistically), I'll not trade on Fridays. That should help matters.