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Yeup. Took a beating. Lol. This opponent moves quickly. Ducks, sideswipes, lands multiple shots quick succession then recedes just as fast.
Not just that, it can deliver blows on par with the best of the best.
I love it... but I let my guard down.
A) Trading the MES and carrying positions overnight wasn't the norm but wasn't out of the ordinary either.
I was carring only 2 MNQ positions and woke up to -$740 loss. Now I know anythings possible but 2 is a no no. *I'll probably allow 1 if the market looks right.
B) I honestly don't know why, but I started using stops again. (Probably the shock of seeing my account down so much and being scared to take risks?)
I haven't done that in weeks! Today I stopped in and stopped out. That's the way I used to think you were "supposed to trade".
C) I also have multiple full position reversals!?!! Where the HELL did those come from?
Back to what made me start to turn the corner in the first place...
Practice the PATIENCE to NOT stop out at stupid areas. It'll come back! If not then WAIT for a retracement.
Practice the DISCIPLINE... to stick to the PATIENCE part and wait for the right time to enter and exit. Don't just set a stop and hope! That is just stupid and this is what happens.
Thats OK... shake it off and head back in for the next round.
Science has proven witing something down improves memory as it activates different parts of the brain. (Plus it's social pressure as I wrote it publicly)
So for TODAY remember what I wrote YESTERDAY!
DON'T STOP OUT!
Stop in on retracement sure but don't STOP out. You do that out if FEAR and it's guaranteeing loses!
PRACTICE the DISCIPLINE to have the PATIENCE to do the right thing...
8:30 PST down over $800 in open profits. This is the way it has to be. I'm on the wrong side. (Again damn it!) I'm going to be there around %50 of the time so manage and dont panic.
.
I trade the NQ exclusively. Volume Profile and Cumulative Delta, coupled with basic technical analysis, is the way to trade this thing. At least it's worked for me.
