Since I stopped journalling I have increased my size, pretty much eliminated my active errors and remain with two main issues. First I am still not taking a high enough proportion of valid set-ups and second I still exit early.
However, I should be very happy that I no longer:
- take trades when there isn't a qualified set-up
- take revenge trades
- take boredom or distraction trades
- hold a position when my rules say I should have exited.
So thats good. And also I have increased size and after some problems am essentially where I was with smaller size - well maybe I sweat a little more when the market is teasing and tormenting me rather than heading straight for my target.
1 trade. risk 15. mae 13. mfe 27. profit 15. 100% to the rules although discretion could have improved the entry.
I would like to have taken 2 or 3 trades although they were a bit hard to spot in real time today.
1 trade. risk 10. mae 2. mfe 3. profit 3. entered. felt it was behaving incorrectly. exited (then it really went !)
2 trade. risk 8. mae 8. mfe 8. profit -8. this one was a mistake. thought trend was reversing.
In the second trade I was frustrated about missing out a big swing on trade 1. So I was looking too hard and shorted a non-top. Putting pressure on myself to up the rate. But have to balance against fully qualifying every trade.
1 trade. risk 3. mae 2. mfe 10. profit 9
2 trade. risk 13. mae 14. mfe 0. profit -14
A losing day. Didn't feel to bad about the losing day but the second trade was forced a little. Balance between missing fully qualified setups and pressure resulting in some slightly suspect entries is a tricky one.