STICK TO EXIT/PROFIT TARGETS AS SOON AS IT HITS TARGET CLOSE THE TRADE NO HESITATION

STICK TO THE PLAN LET THE TRADE RUN


EMOTIONAL CAPITAL TAKES MONTHS TO BUILD AND SECONDS TO LOSE PRESERVATION IS PARAMOUNT




THERE WILL BE NO SETUP THAT TELLS YOU EXACTLY WHAT TO DO - USE YOUR INTUITION




Tuesday, 15 May 2012

15th May

I feel like I edged forwards today results were as poor as normal but my trading is improving mainly my psychology. I think I have to be careful about over analyzing the long time frames although I was actually right on my daily analysis yesterday and the index moved as I had expected it isn't actually that pertinent to how I trade.  I will continue to monitor as it is useful to know but I will be careful in ensuring it does not consume my bias on picking trades.  A probability play is a probability play and the market will do what it does I think it is unlikely I will very often be able to look at a daily chart and predict how it is going to move the next day.  I may have a feeling on the TA and sentiment as well as the fundamentals which is important but when I'm trading I need to be trading what I see unfolding in front of me and nothing else except for maybe on very extreme situations.

-2
+9
-8
+3
-21
Total = -19 points


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