Above is my chart setup. I watch both ES and TF for a few reasons which I will talk about in more details after I get a good night sleep, which I missed last night.Got home an hour after market opened. Didn't feel like I've missed anything. I wouldn't have chased that move up anyway.
Was waiting for a signal to BUY, but got a signal to SELL on ES instead. Again, will elaborate tomorrow morning (it's now 1:38AM in Singapore). I took the signal and sold. Got out when price opened above BB. When ES went back down again, I hesitated to chase. My signal has become too old. Meaning that my stop loss would be too far away to make it a worthy trade.
On TF however, my signal to sell was fresh. I sold at the candle indicated on my chart above. Covered near 161.8 coz, well, it's 161.8, and it's common for price to retrace. And I had enough to cover my first loss. I don't want the first day of pure robotic trading to end on a bad note. Thought I'll get in again on TF after that. Went for a smoke break. Came back and was a little disppointed to see that TF hadn't waited for me.
I'm turning in now coz I'm beat. And I don't want to trade when I'm drowsy.
Most importantly, I finally have a net positive day again after...forget it, I don't even remember the last time I had one.
I'm happy. My heart hadn't raced at all throughout. My first loss hadn't affected me at all. I had gone out without hesitation once my stop was hit (a mental stop - a stop nonetheless). I took the 2nd trade without hesitation, and let my profit run although TF hesitated a little on the candle after the one that I entered on. Waited for one more candle, and saw objectively that 161.8 was near, and thought strategically about taking care of my capital first. Something that I wouldn't have been able to do had i been scalping.
This is a breakthrough for me in terms of overcoming my fear of holding a winning trade beyond 1 candle, and my fear of taking a loss.
Definitely going to give my "system" a chance.
Will provide details on my setup tomorrow if I get a chance. Another busy day...
2 comments:
Jules,
Grats! Get some rest :)
LT
Thank you, LT :-)
I'm not going to surrender to my no-good emotions. They don't have the right to occupy the centre seat in my life in the first place. I allowed them to coz I had nothing else then. They've outlived their usefulness, and I'm sending them to venus! It's the age of the machine! LOL!!
Post a Comment