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crawling across the finish line...

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crawling across the finish line...

it was a marathon session this morning and for the first 90 minutes my pips were green and growing...

i was methodical, peeling away negative floats. floats that seemed to be outside of the developing range/level or flow of price. no one loss was so significant as to stall my progress. after having a similar experience during my tuesday trading session, i was feeling good. it was proof that what i'm working on is doable and it doesn't have to be difficult or complicated.

as well as it was going, early on i failed to take the actions that matched my in session trading notes. i was favoring shorts, in fact i had such a bias that was actively building a short position. what i wasn't doing was taking longs. even though, i commented "looks like it might push higher", i was set on taking shorts. more to the point, i made additional notes that favored a long bias...

10 minutes later... "remember bidirectional"

20 minutes later..."long bias?"

still no longs, my actions were locked in on shorts. this is the skill i am working on mastering...

matching my trading decisions and action to my on going internal trading dialog and trading notes.

15 minutes later... "pattern is changing form" (favoring longs)

15 minutes later... "remember longs"

still no longs or to few to count.

20 minutes later...yet, again... "remember longs"

i was reacting to the long pulsing candles...fearful of being crushed...the key point here, is for me to trade inspite of myself, to grow my bidirectional muscles and habits.

another 20 minutes and i write... "missed longs, bidirectional" 

at this point i'm holding my own, the shorts are playing out well, pips are green and growing and still, i easily missed half again my current pip total by not taking longs.

now, i'm experiencing the nagging feeling... "it's to late"

with every pulse down there was a new opportunity to go long and i still found myself resisting. yes, there was a short bias at start of my trading session and the price quickly proved that it was not going to push any deeper. i was marking low pins and noticing the sense of a wall (aka support). still, i was not acting on what i was seeing and consciously noticing.

from this point on, due to my relentless short bias, my position begins to fall apart. even with countless more long reminders.

however the game has changed, as i have built up a short position and my open positions are approaching max count...even deciding to finally start opening long positions, i simply didn't have the room to navigate the rising price.

during all of this conversation, with myself, i had failed to peel off my negative floats...and now leverage was quickly working against me.

in the end, i saw the stops approaching, after a quick aggressive candle, that reached considerably higher, i recognized any actions at this point were to late. so i went flat and ended the pain.

on the one hand, i learned that it is possible for me to trade effectively, using a bidirectional method...which encourages me to push on. on the other hand, i did not act on my many comments to self, i stayed married to the shorts and what made matters worse, i didn't continue to peel of the, out of position, negative floats.

while the outcome was not what i wanted, i did have a very strong period of trading and first "managing my risk".

there is still work to be done and i will stay the course.


Wed, 10/10/2018 - 9:56am