12/16 Trade Review → -18pts/-$900 on 4 Trades:
Here’s a screenshot of the day’s action. I marked up 1 spot on the chart that I want to discuss. Keep in mind that the white horizontal lines indicate the initial balance high and low (which are the actionable entry levels for my strategy).
1. TRADE #1: Long at Initial Balance Low → -3pts/-$150
TRADE #2: Short at Initial Balance Low → -4pts/-$200
TRADE #3: Long at Initial Balance Low → -4pts/-$200
TRADE #4: Short at Initial Balance Low → -7pts/-$350
All of my trades came within this chop. I should’ve recognized the point of control developing right above the IB low earlier and stopped taking stabs after the second or third trade, but I kept pressing. Hard to enter and keep stops tight within a choppy area like this.
Overall, bad execution on my end. Too much flip-flopping and pressing within a clear chop zone.
Written by Matt Thomas (@MattThomasTP)
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