Long at breakout but then had big MAE nearing my stoploss. Stay in position because I sticked to my biggest rule (that been broken 2 times before this) . Turnout the breakout is faked as it failed to proceed quickly. This time i decided to follow POP rule and took in the fishes. Followed both tech and mental rule . So I deserved my reward 7t and close PC.
No trade tomorrow Thu - EIA
Took a weak signal in the compression zone, and my position is compressed -11 ticks.
Plenty of better places later but already close pc.
Its all in the mind.
Hunting mind to be developed, not foot soldiers.
I found that CL behaves as cold as snow in December.
Like past years.. (refer to right side column - blue fonts).
I think its better to wait January...thats a long wait and probably my skills became rusted then..
Better find something better to do...
Opening 9 am for CL trading seems has a magic of its own.
9am could be a starting point of a trend.
9am also could be a end point of a trend.
Its like a S R line.
eg. Monday 7 Dec -
Mistakes: Too much emphasis given to big frame chart.
Big and small frame must agree :: to be reliable.
Its already in the rules but trading mind no warming up.
The Angel say take the profit 20tiks but the Devil say can take all 40tiks.
Waiting price goes to previous day low proved backfired.
2 great lesson not found in the trading books -
A) price can wait but time can'T.
B) a winner in trading can take half.
Next week pls.
the actual 1st chance to short missed as I used limit order.
the 1st trade has mae -7 before +6 ,and 2nd trade mae -9 before +5.
my mental eneergy drained by mae, close pc then watch tv.
CL play squash again, which I'm not ready for these yet.
No space before open market..difficult to catch the 1st move.
Maintain 1st chart.
Adjusting 2nd chart for squash playing