Setback
Okay, so the purpose of this journal is to see the strengths and weaknesses of my trades. Imperfect man will, I need to stress that, will make mistakes both in decisions of market direction, timing and in determining levels of retracements.
When I type things like the above phrase, it will be for me to easily see when/where I messed up as I go back and review past actions.
In this specific case, I have messed up in determining my levels of retracement. This little problem then compounded quickly by me not selling out of my position, hoping it would reverse somewhat...on Friday after a very big run up...I knew it as soon as I saw it that morning.
So my BIG mistake was not exiting the position and taking the loss. This has caused me to prepare for exit when I should be preparing for my next trade (entry).
That will have an effect on my next trade if I'm not careful.
Okay, so the purpose of this journal is to see the strengths and weaknesses of my trades. Imperfect man will, I need to stress that, will make mistakes both in decisions of market direction, timing and in determining levels of retracements.
When I type things like the above phrase, it will be for me to easily see when/where I messed up as I go back and review past actions.
In this specific case, I have messed up in determining my levels of retracement. This little problem then compounded quickly by me not selling out of my position, hoping it would reverse somewhat...on Friday after a very big run up...I knew it as soon as I saw it that morning.
So my BIG mistake was not exiting the position and taking the loss. This has caused me to prepare for exit when I should be preparing for my next trade (entry).
That will have an effect on my next trade if I'm not careful.
Everything easy was hard at first