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-- Big Mike, Site Administrator
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Yesterday i violated basic rule. My girlfriend call me, so i pick up. During the calling i noticed, that appeared setup trigger (on basis micro analysis, micro analysis is focused on inside structure of trigger). So i made entry, without macro analysis (macro analysis is focused on trend and market condition). So, i violated these rules:
Trading during the call (in trading plan it is basic rule) = not completely focused on market.
I didnt watch macro analysis of market.
Yesterday, I was really pissed off on myself. Not because the lost, but because i violated basic rules...
Otherwise, i think that I wouldnt make any trade, because market was choppy.
Ideas that challenged me while watching the market:
20:22 The market for the last few days is still moving sideways. I'm thinking about changing the system. But I realize that I need in each one the trend, I earned. I hope my thoughts will no longer such a challenge.
20:36 I received a potentially valid signal, but I had doubts about the trend.
21:04 created is a valid signal, I entered the order, but I have not been filled according to plan.
21:15 Another valid signal, but I had doubts about the trend.
First, a bit of background. In Big Mike's price action tread (, I was asked if I keep a journal. I admitted that I don't keep a classical journal, but rather a simple set of statistics that could be intrepreted as a simplified form …
20:06 Looks like another choppy day.
20:11 The market is located at EMA 21
20:38 The market is still in the chop. I listen to music that helps me to concentrate more in this (choppy) market.
20:43 The market draws a triangle, expect a move.
20:52 Break out the triangle.
21:01 possible entry, the point 2 and point 3 are on the same candle = no valid signal.
21:14 Valid signal entry long. No doubt the signal.
20:02 The market made a big move up and then it corrected to EMA21 and little while ago made a new high doji candle. This situation is dangerous - often makes it the chop.
20:06 The market made a strong decline, breaking the previous low. The market seems to live. Waiting for confirmation of a trend.
20:26 The market went into the chop.
20:41 The market fall again performed and created a downward channel. However it didnt brake previous low, and did the DB.
20:51 Enter short with valid signal.
21:00 Hit a stop-loss. Trade didnt develop from the beginning as I expected.
21:07 The market went into the chop.
The business plan I've added the rule that if the signal appears DB / DT, so do not take it.
