So my entry target from yesterday's trade idea was a miss and the trade totally ran the other direction. Just as well? Maybe not. But I'm going to stop with this brown paper bag over my head business and start building my own confidence levels. So this trade was a miss. There will be another, perhaps even better, trade.
Next week is Plan Your Trade, Trade Your Plan Week - at least for me. I'm going to start actually putting my money where my mouth is - or at least try.
No point in doing all the analysis if I'm not going to learn from it or act on it.
What did occur to me is that I should pay more attention to what the market is doing at the levels I've pinpointed before I take action. I have to stop myself from being so impulsive. How are prices reacting at my ideal entry levels and at the levels I want to place my stop?
I have to learn how to read market behaviour more accurately. And not only is hindsight important, but foresight is perhaps even more important.
When I look at my trade setups from both the bullish and bearish perspective as I'm formulating my trading plan, I have a much clearer view. It's a lot more work, but I think it's work that'll pay off.
Good luck with your trading! We're all going to make it one day!!
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