Second trade, the same concept but I got in a little late as the price flew up in such a short time and I got 1 tick shy and lost 10 ticks leaving me flat for the day.
I made the same mistake than yesterday. I let a winner turned into a loser just because I wanted to stick to my guns. My thought was "if I am willing to lose 10 ticks why should I pull my trade out? it could have turned around giving me the 10 ticks I wanted" the truth is: the premise of my trade was over when the price moved out of the channel. That was the indication I should pull my trade out, not fear.
Pulling out trade out of fear is different.
Lesson of the day "premise over=trade out"
The second blue arrow is a prediction, not a trade. I saw the price bouncing at mid range and I though it could go up for 10 ticks, and it did.
Second trade following the same rule as the second blue arrow giving me 10 ticks out of the market.
Third trade, I was right in the direction but I was short for ONE tick! mistake I made is to let it run to my stop.
I should have pull it out positive or flat but I should move my stop once the trade is up. The problem I had in the past doing that is that I was kicked out +5 and then went to the direction I predicted so I could have had my 10 or 20 ticks but ended up with just five because of me moving the stop loss.
The first and only trade was based on SR. Even though it didn't reached the top of the channel I saw previous prices reaching the middle on the channel so I went short when the price touched the middle range getting my 10 ticks of the day.
Second prediction was positive following the same rules as the trade before.
Third prediction was the same rules. So if I was trading I could have made 30 ticks today.
The market was easy to read and I was feeling confident.
The second trade I made based on compression. I saw the funnel forming and I didn't get in in the first try so I tried the second entry ended up negative for the day.
I was frustrated. The second trade wasn't a good choice I think. I should stick to one method and stop going back and forth. I realized I'm not upset because I loss 20 ticks, I'm upset because I made wrong choices.
The second trade was SR again. I pulled out at +6 ticks because the price was oscillating too much for my comfort.
Third trade was beautiful. Touching the top of the channel and pummeling down leaving me with +10 tick.
I ended up with +6 a good number thinking about all the good choices I made today. The first one didn't work but it was a good trade. Not all trades will work but the one that didn't it wasn't based on a stupid decision and that makes it good.