Fri 19th June

End of Day Review

-1.00%

4 trades taken.

0 winners, 1 loser, 3 break even.

10:47

10:52

M1 Double Top | +0.08R

Rushed Breakout trades x 2 | -0.88R

First trade +0.08R: I had marked the what I thought was going to be a double top with the pink / purple lines in the shape of an inverted W in advance. However, price went above what I marked as the top, therefore I deleted the lines and looked sideways. All of the sudden, price went down and the setup I marked earlier was on! I rushed the trade, at a different level of what I initially planned (12374.03 was the one), and therefore I moved my stop loss to breakeven out of fear as soon as I saw some margin. Market took me out and went down, it could have been a good winner had I stayed focused…

Second & Third trade: FOMO and frustration trades. I was still thinking on how I missed the double top I had marked, and it was violent the way price went up! I rushed two trades, wrong entry level, wrong stop loss, all about them was wrong, definitely the ones that I am not proud of, regardless of the result. 

All 3 trades happened within 5 minutes, a sample of how important is your state of mind at a certain point to avoid mistakes! 

16:20

M15 FIBCON Failed | -0.20R

I had such a nice feeling when price reversed just after my entry!!! I thought this was going to be the setup of the day!! 

The dream lasted 19mins, not without taking price above my 1R level first! 

I guess the whole thing here is my stop loss, I was extremely conservative (it’s not the first time), and therefore I made a winner trade to become a breakeven or loser trade… Something I definitely need to look into. 

Good news is: the market has plenty of fish to offer, see you next week!

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