Folks missing yesterdays up move of 200 plus pips was not painful but missing an opportunity to resell the UPL again is very painful.
As i wrote yesterday that i no longer wish to trade the volatility of a news release. Thus missing on the upward journey was no problem. However, after i had successfully sold the red fork to the median line and the market moved to the upper parallel line again to offer another opportunity to resell it and i failed to do so because i was not focussed is a big problem. This was a very good signal where the odds of a favourable outcome were even greater than the first trade. I know there will be many other opportunities during the day and of course the rest of my trading career so i shouldn't beat myself about one missed opportunity. But, the point remains that i lost focus by writing here and in another journal at another site.
My new plan of action is to stop posting live trades here. It has never been my intention to provide live trade calls. Since that is not the reason then why must i distract myself by taking screenshots, uploading, writing a brief explanation and then updating. All this takes time and there are times when one must really follow the formation of each bar to get a feel if the market movement is in accordance with ones expectations. This focus can potentially save many many pips(by cutting losses quicker) and make many many pips(by moving the profit target further from price action). I will continue to post all my major trades and the commentry on daily basis but, i will do this at the end of the day. I shall do the weekly analysis and ofcourse at the end of this 3 month trial i will post my balance and daily movements for the entire period.
As i wrote yesterday that i no longer wish to trade the volatility of a news release. Thus missing on the upward journey was no problem. However, after i had successfully sold the red fork to the median line and the market moved to the upper parallel line again to offer another opportunity to resell it and i failed to do so because i was not focussed is a big problem. This was a very good signal where the odds of a favourable outcome were even greater than the first trade. I know there will be many other opportunities during the day and of course the rest of my trading career so i shouldn't beat myself about one missed opportunity. But, the point remains that i lost focus by writing here and in another journal at another site.
My new plan of action is to stop posting live trades here. It has never been my intention to provide live trade calls. Since that is not the reason then why must i distract myself by taking screenshots, uploading, writing a brief explanation and then updating. All this takes time and there are times when one must really follow the formation of each bar to get a feel if the market movement is in accordance with ones expectations. This focus can potentially save many many pips(by cutting losses quicker) and make many many pips(by moving the profit target further from price action). I will continue to post all my major trades and the commentry on daily basis but, i will do this at the end of the day. I shall do the weekly analysis and ofcourse at the end of this 3 month trial i will post my balance and daily movements for the entire period.