intro: Got up and before I even updated my levels, took a trade off an old level from yesterday and realized I was not on form.
thoughts: The behavior above is not objective or logical. It wasn't the worst trade in the world, long off an objective level of long term demand. But as mentioned I hadn't updated my levels nor looked at the other pairs I trade. This was where the real issue was as there was quite a high correlation between them today and the trade I took didn't remotely match what the other pairs were doing.
summary: Just a bit burnt out at the end of the week. Lots of stuff outside of trading and not having been able to stick to my routine (getting out in the afternoons) means I'm a bit frazzled. This can be seen in me jumping on that trade and also afterwards, staring at the charts for an hour waiting for a pullback to get long. The point being I don't need to be at the charts that's why I set alerts... because even if price gets to the level I'll be completely worn out from staring at the charts incessantly and I'll likely mess the trades up. Caught myself in this act today plus the poor first trade, shows I'm impatient, so I'm cut off. Most days I enjoy the wait (for alerts) it's mellow and relaxing, today I'm hating it and that's very telling!
Lesson: If I'm rushing or impatient (watching price action rather than waiting on alerts to sound) I'm not in the right head space and it's probably best to leave it for the day.
morning prep...
EU Trade (no correlation between pairs)...
thoughts: The behavior above is not objective or logical. It wasn't the worst trade in the world, long off an objective level of long term demand. But as mentioned I hadn't updated my levels nor looked at the other pairs I trade. This was where the real issue was as there was quite a high correlation between them today and the trade I took didn't remotely match what the other pairs were doing.
summary: Just a bit burnt out at the end of the week. Lots of stuff outside of trading and not having been able to stick to my routine (getting out in the afternoons) means I'm a bit frazzled. This can be seen in me jumping on that trade and also afterwards, staring at the charts for an hour waiting for a pullback to get long. The point being I don't need to be at the charts that's why I set alerts... because even if price gets to the level I'll be completely worn out from staring at the charts incessantly and I'll likely mess the trades up. Caught myself in this act today plus the poor first trade, shows I'm impatient, so I'm cut off. Most days I enjoy the wait (for alerts) it's mellow and relaxing, today I'm hating it and that's very telling!
Lesson: If I'm rushing or impatient (watching price action rather than waiting on alerts to sound) I'm not in the right head space and it's probably best to leave it for the day.
morning prep...
EU Trade (no correlation between pairs)...
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