Morning trading felt better than expected.
Getting the poor trade closed up, helped redirect energies into flow of todays action. Loss aversion puts me in the state of inAction.

Taking action and being strategic is the key to getting back on track.

Ask "How can I make my trade more strategic"?

Once the new action is clear and made, the new direction opens new focus and learning.

Going forward I am going to trade level to level. Swinging for the fences is not in my rule book.
Striking out does not mean there are pitches after 3 misses----walk away and have a seat.
Trend and S/R - keep it simple.

Lol. Reread my post on the very first page of your journal. I told you you would think I was crazy but all you need is what you just discovered above... Keep at it and things will start to work for you.

Turbulant month to date.



Has been a litmus test as the strengths and weaknesses of my trading have been highlighted.



Strengths, patience - am managing to hold trades to targets.

Identifying S and R is improving.



Weakness, impatience - am continuing jump in to early. Have target entry in my mind, failing to see the trend and get blown up without a hard stop. This has caused me to hold positions overnight - which I do not mind - but doing it when it was not the plan.



Two frustrating trades from this month - both involved adding to a losing trade and at a point in day where I am showing fatigue in my decision making.



Chalk that up, Plan, always have a plan. Jumping in just because market is moving- Playing catch up - has always proved me wrong.



This morning I tallied up the trading results for past 5 months.

Business Revenue months - August/October total $2777USD

Business Expense months - Dec/Sept/Nov/YTD -$6028USD

Net Loss $3251



Five or less trades accounted the loss. Lesson, small losses need to be taken. Trade with less emtion. Trade less.

Please stop reading anything about patterns. I know them all from A-Z, spent 100s of hours programming and trading them and it's all bullshit! Very convincing bs but you will not make money doing that. You will blow out your account. For that matter, disregard everything you have read about trading! I know this sounds crazy but you have a chance to learn this properly and if you don't cloud your head with fibbonacci numbers, harmonic price patterns, renko charts, cycle analytics, entry signals and all that crap you will be so far ahead of the game. 90% fail because they all do the same thing.



Truth be told, you need to first learn to define support and resistance and understand that price moves between these levels. S/R comes in two fashions- price points ( highs, lows, closes, swing high/low, etc) and volume at price. Learn this before anything. Once you have "framed" where price may travel you can work on building context by looking at price action relative to S/R.



That is a start for you that will save you more than you believe- One day you will appreciate this post- ask any experienced trader on here and they will tell you the same.





Edit- check ou this link for an idea of what I'm talking about- every morning I discuss S/R levels premarket in a very simple way.

Spoo-nalysis ES e-mini futures S&P 500 Looks like more poor economic data out. This time the market did not shrug it off. All the sudden "No Rate Hike" is starting to make sense. I see some big volume traded in the mid 70s that could provide support off the volume dist chart (I …