This week was an odd one. It had an equal measure of good, bad, and ugly. I didn't trade Wednesday as for some reason I arranged my usual Chiropractic appointment at 09:00 instead of the usual 10:30, and I still have no idea why? I followed my strategy but then on odd days, like Friday, I started to slip a little into my old ways. I found myself getting distracted by silly things and missing trades. I'd Flip the Switch on some trades, but then on others I'd just watch it stop me out with no reaction. I FOMO'd into a trade on the 1min chart and justified it by referring to my 1st rule of trading -
If you miss a move, you miss a move. Don't be a rabbit in the headlights watching it move without you. Look for an entry on a lower timeframe, or wait for another signal.
Although this is a 'rule', it is one whose application is very much market dependent and is geared more towards scalping and not trading, i.e, letting the trade breathe, staying 'in' the trade. Whilst we're on that subject, my ability to stay in a trade is improving in leaps and bounds. I very rarely feel any pang or twinge to emotionally close a trade. I am calm and composed and simply watch the market move and as it does so, I look to see where my exit point is, and adjust it accordingly along with my stop. The only time I'm not quite zen is when the application of my exit strategy might might result in 'giving up' 20+ points for the sake of sticking to my strategy. Then I'm a little twitchy shall we say.
I think the main reason for all of the above is a lack of focus. On reflection in my daily review it seems to be the running theme. I need to address this for the coming week as it lead to a losing week overall, when had I been focussed and following my strategy to the letter, I would've booked a winning week, albeit small, 50+ points, it is still a winning week. Imagine if that was at my target of £200 per point. That's a £10,000 week! So with that in mind, I know I can follow my strategy, I know I can stay in trades, I know when needed I can flip the switch, so now I just need to work on and apply my focus, be present and alert, and the rest will take care of itself.
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