Well, today was a day of learning—a day in which I made too many discretionary decisions that, in hindsight, were unnecessary. For example, in the first trade, I should have protected it; I shouldn’t have let that large stop hit me. In my second trade, I didn’t take it immediately. I waited to see if the price action would align with me because the candle looked bad. That one worked out. Then there was a third trade, but by then our Rb was flat, and I probably shouldn’t have taken it.
Later, I had a fourth trade, which I think was fine—I protected it because too many bars went by without giving any profit. The fifth trade ended in a stop loss, and that stop could have been protected as well—it didn’t need to be that big. Then I had another trade that went well, followed by one more that was also successful. After that, I took one directly near the 200 SMA, which I shouldn’t have entered. I also took another trade with a bad-looking candle, and I shouldn’t have taken that one either—it was a loser, and I should have protected it too. Finally, I took a couple of winners.
So, I need to be much clearer about protecting trades and about when and how I enter.
