Weekly Trading Review – 27th February to 3rd March
Summary of Performance
Not a great week. I did not trade well.
Week started off very well, and then poor trading mid-week, left me drained of emotional energy and traded very conservatively for the remainder.
What did I do best this week and how I did I do it?
Monday was focused, and followed my plan, took every Grade A setup. Traded well.
What did I do badly this week and what lead me to do it?
Mid-week was trend down days, and I tried to fade these areas. Nothing wrong with the set ups per se, but I know these have a lower probability of working when fading trend days.
Why was I trying to fade a trend day?
I suspected that it was a trend early on when price did not react at certain key levels, and tried to get in with the direction of the trend day.
The reason is simple with hindsight, that all my initial trades, when I suspected that a trend direction was setting up, did not get filled, either on blind order or off my auto triggers and price left without me.
I then tried to constantly to fade the trend.
This is purely revenge trading driven by the emotion of fear of missing out, and over confidence in my areas and triggers.
This is not a new lesson, I have made this mistake in the past. The difference is that in the past it was driven, by not taking a trade due to fear of loss and then trying to fade my own plan, to make up for it.
This time, I tried to get in and then tried to fade my plan.
I am aware of this but in the heat of the moment this past lesson went out the window.
I re built my system so that I trade my context plays, with blind orders and auto triggers off various set ups. My system is not taking any the setup without context. My stats show whilst this has a small edge of time, that my best trades all come from playing the setups in line with my context read.
I spent plenty of time, systemising my context plays, and my setups and entries. It seems pretty fucking stupid not to follow the system because I got left behind on a couple of trades.
What is the good news
I traded a lot better on the last 2 days, even though I was very conservative, but I was aware of my emotions when twice I did not get filled off my auto triggers, for my main play. Even when over 400 contracts traded at my price and I still did not get filled. I then focused on trying to find opportunities to get a second chance of getting in to my main play rather than trying to scalp low probabilities entries again the main play.
I noticed a sequence of order flow in my fades of the trend day, which I can use at the very minimum to exit fades trades (if I am in them), and at the best to get in with the direction for a low risk entry in the direction of the day.