EU trades: Shorts at supply in downtrend, issue = old level meant sell orders all filled.
EU trade missed: should have pre-empted old supply level failing and got in on a demand level on a smaller timeframe.
into: Poor entries, good money management.
thoughts: Recognized that the level of supply I was trading was old but doggedly took trades almost solely to practice managing risk. While missing the best trade that I had recently read about in a Seiden article.
summary: Writing a bit about this in an unpublished post on risk. Crap entry, ultimately there's more than one way to manage risk.
lessons: 1. when at (many) tested level of demand or supply , you should look to fade it on a smaller timeframe. 2. trading is about managing risk so trades should be measured by the following parameters: 1. ensuring that you are only risking x% of account (did). 2. reducing risk (trail and time stops) in trade (did). 3. choosing low risk, high reward entries (didn't).
morning prep:
in session trades:
EU trade missed: should have pre-empted old supply level failing and got in on a demand level on a smaller timeframe.
into: Poor entries, good money management.
thoughts: Recognized that the level of supply I was trading was old but doggedly took trades almost solely to practice managing risk. While missing the best trade that I had recently read about in a Seiden article.
summary: Writing a bit about this in an unpublished post on risk. Crap entry, ultimately there's more than one way to manage risk.
lessons: 1. when at (many) tested level of demand or supply , you should look to fade it on a smaller timeframe. 2. trading is about managing risk so trades should be measured by the following parameters: 1. ensuring that you are only risking x% of account (did). 2. reducing risk (trail and time stops) in trade (did). 3. choosing low risk, high reward entries (didn't).
morning prep:
in session trades:
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