Another working day cut short thanks to needing to go home to wait for the BT engineer (who again didn’t show!).
Continued working with discipline. Took two trades on EURGBP both were entered following a bearish XO, however price continued trading sideways resulting in two losing trades. The first short trade was stopped out due to a brief rally on comments of Ukraine and Russia reaching a ceasefire agreement – this triggered a decent rally in equities globally. Similar to last week, within an hour the comments were rebutted and/or clarified causing a bit of a U-turn.
Later entered a short on Cable with somewhat of a bigger stop (23 pips) and am still in this trade as of Thursday morning.
A real struggle mentally/emotionally yesterday. Things are not going as I would like them to go. I feel I am doing well on the input side of things – taking valid setups, being disciplined, managing my risk, being organized with my day. However the results are just terrible. Already I am down 6R for the week.
In the evening I went to a psychology-related talk by Steve Ward – a sports/trading performance coach – this was good.
Basically I am a bit all over the place right now.
The tasks on my list to do – I can’t understand why these are taking me so long to complete:
- Complete a review of the trades taken the last 2-3 weeks (from the point that I have only taken valid setups)
- Review the charts and see whether there were valid setups that I missed
- Building on the findings from the above two tasks, determine approaches for managing open positions