Trading Week in Review April 30th – May 4th

Next week will be all about execution. I am going to make it my goal to trade each session to the fullest. No more “$0, no trades” due to just watching or missing moves or missing parts of the session.

Going to take full advantage of what next week brings!

Trading Week in Review April 30th – May 4th

PnL Summary:

April 30th: $0, no trades

May 1st: $100

May 2nd: $12.50

May 3rd: $0, no trades

May 4th: $0, no trades

– – – –

Weekly Total: $112.50

– – – –

Total since starting PriceBasedTrading.com (May 13th 2016): $375.00

 

Lessons/Things to work on:

  1. Trade management
    1. Creating profitable outliers
    2. Know risk/stop, then don’t interfere
    3. Don’t act on the trade unless price forces an act
      1. Level broken
      2. Stop hit
      3. Lak: Hold trades until the point at which price “loses progress on the trade”
    4. Levels, SLA
  2. Enter trades at support and resistance
    1. Focus on price
    2. Find high impact prices/levels
      1. Higher timeframe levels
        1. Major S/R
        2. Leg Starts
      2. Shift away from trading the lower timeframes
    3. Long at support
    4. Short at resistance
    5. Enter as close to the ‘decision’ point as possible
    6. Be in position to take advantage of the higher timeframe moves
    7. Scenario Planning
    8. CONTEXT/STRUCTURE/LEVELS
    9. Auction Process
  3. More value from each session
    1. More contracts
    2. More trades
    3. Capture the opportunity each session provides
  4. Mindset
    1. Market/trade unknowable, my strategy/mindset knowable
    2. Focus on implementing the execution/management strategy
    3. Winning mindset/attitude
    4. Trading Mindfully/Active Interruption
    5. Trading: The Video Game
    6. See the trade, take the trade
    7. Other Traders’ Perceptions

 

Billy Ocean took the stage last week with Caribbean Queen. This week we’re going to mix it up a bit with a 2 part TEDx talk by Dr. Alan Watkins entitled Being Brilliant Every Single Day:

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