Need to be more committed mentally to the task to ensure I form the correct beliefs necessary
Best mindset = alpha we trust ourselves and our environment
The ego stops me from concentrating that's why I keep writing focus! My ego thinks I can stop paying attention but I can't, the ego will stop me developing
It's IT7's mindset that probably mainly sets him apart from everyone else that he's developed. This is quite obvious from looking at his trading days.
Study more of my charts and trades. Also study IT7 and his charts but more look at his psychology of how he's trading
Don't increase position size beyond appropriate amount
Don't follow trade signals
Don't trade into the FOMC grind = 1 hour before
Now you are Learing a bit more you are looking for the big move too much
Don't take trades through minor levels DON'T TAKE TRADES THROUGH MINOR LEVELS FIND A BETTER ENTRY
After a massive move don't take trades looking for big moves it's much less likely
Remember to look at roughly what the minimum r:r should be some terrible trades have been taken in this respect
BASE YOUR DAY RESULT AND REVIEW NOT ON PIPS WON/lost but on metrics performance e.g how well did you manage risk how were the entries how were the exits? How was your PA judgement how well did you recognise the type of day action
Grinding into a level isn't when to use a breakout play this is when you need pascience and stop placement think mf breakout. Learn when to use breakout plays and when to hold for a slower move
Aggressive retest should move quickly if not then exit
Taking break out entries from levels looks to be a low probability play most the time my style and the time
I'm trading I think I prefer digging a deep entry or fading the better entry normally does materialise
Fear and greed makes me hold onto the trades instead of actually taking in what is happening and the market structure as its unfolding
There is normally a small nuance that will let price show it's hand it is very hard to spot at times especially if you are in a trade and it is conflicting with your current direction. You have to be open with a clear mind taking in every tick
Look at how many bull/bear bars we had recently compared to the other to try and gauge who is in control. or how many we have going into a swing etc. use what you can to give you the nuances and the clues
Right down emotions it helps especially negative emotions from losses bad trading etc. you need to transform feeling not just act on it. Also monitor positives it is important for developing emotional capital
Keep track of your emotions. When you are most frustrated but most confident this is dangerous try and take a break and do relaxation exercises.
Use the thermometer exercise draw to thermometers one for frustration and one for confidence and note scores down regularly
Some days the levels work and our respected very well take this into consideration
Be careful about letting trading decisions be dictated by your p&l for the day. You did this earlier and paid the price
Look at how many pushes you have per move 3 pushes sometimes signals the end of that pattern/move
End of day stats.
Grade:
Entries
Exits
Gauging market structure
Trade management
Psychological composure
You need to be more dynamic
Slow grinding session eg before presidential elections etc can be better to trade off the 1 minute
Look out for pivot levels that are some times in the middle of ranges but price will react to them again. They can be hard to see
Need to look into switching positions why when a position is wrong do you not switch?
Every entry is different when you've got an entry that you are running with an extra tight stop something may happen that invalidates your trade very quickly therefore if your trade is invalidated is there now a trade in the opposite direction? There may be trades where you are fading a move and if it goes against you the trade may still be valid or give you even more conviction that the trade is valid.
Think about what sort of trade it is all trades need to be managed differently but also need a different psychological composure.
What is my biggest psychological barrier at the moment? Not being able to close losing trades!
You do have a level of conviction on trades adjust the trade management accordingly. No trades are the same
