End of Day Review
The day of great setups and a lot money left on the table!
+2.15%
5 trades taken.
3 winners, 1 loser, 1 break even.
09:18
Failed M1 REVFIB | -0.99R
Low probability setup?
I didn’t have enough structure to support my trade. I guess it was more related to my desire to catch one. Will have to thoroughly review how and when they form in order to master these trades.
10:17
Wild entries | +0.40R
Ok, none of the above were planned like that..
On both ocassions price was moving so fast that between the time my brain decided to press “Ctrl+E” to take the trades and the time they executed, the entry level on both was different to what I planned, particularly on the -0.11R trade.
Now, execution was poor, but the idea was there: 12374.03 bulit as support, and I started to see Lower Highs forming and had the trade tool ready to go. However, two minutes before my +0.51R trade, price moved up and seemed like going above the 12392.53 grid level, so I deleted my trade tool and looked away. In no time price moved down, broke the support and I arrived a bit late. Hesitating as to whether the trade was good or a price chaser I manually closed it. I will not lie here: 2 seconds after, price broke the key 12355.53 level marked again on the grid. I rushed the second trade, but when pressing Ctrl+E, price moved wildly down and gave me that horrible looking entry that I quickly closed.
10:43
10:50
M1 Reversal FIBCON | +1.89R (5R 2 after 2 minutes)
M15 FIBCON | +0.85R (5R after 5 candles)
Great structure, great anticipation (if you see my previous screenshot on wild trades, you’ll see where my trade tool was placed, that’s almost exactly where I took the +1.89R winner), poor trade management.
Don’t get me wrong, I am proud of having been involved in those trades. Even a 10R wouldn’t have made me a millionaire at this point on my trading journey, but anticipating these set ups will definitely get me closer to it, therefore today is a great day!
