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




Wednesday, 9 May 2012

Trading 9th May

Dow -40 points

Went long into a short SFP again also traded a set up that wasn't even a set up I was annoyed because I missed the first 2 setups. Really bad couple of days of trading.

IT DOESN'T MATTER IF THE SFP DOESN'T LOOK THE BEST DO NOT TRADE THE OPPOSITE WAY INTO AN SFP EVER I SAID THIS YESTERDAY THEN DID IT AGAIN TODAY

If a level is tested and it can't close over it to the pip trade it.

Classic example of a level collapsing bars making lower highs and we add SFP Bias to the downside


Classic example of a level holding



Look at how the price moves into the levels differently each time when price is sticking to the level but everytime can't push as fara away from it this is a warning sign


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