Continuing with failure to capitalize off bull grind yesterday is exposing holes in my trading execution. Took a significant amount of time this morning (as well as brainstorming last night) to do some back trading to develop a plan to clean up my weaknesses. Discovered I need to pay more attention to the daily trend as well fix some areas of my risk management. Developed a plan and ready to move forward.
At the Bell
Premarket action gave some good opportunities that I was able to take advantage of putting me green at the open. BUT the 1st hour stayed consistent with all the choppiness resulting in me giving up premarket profit plus some. Also, it didn’t help I made some mistakes. Gotta get rid of these mistakes. All day price has been bouncing between the high and the close of yesterday probing for a break of both but never holding the move.
As of lunchtime, the price stayed consolidated. Price action was so crazy my risk management strategy wasn’t safe, resulting in a small winning trade to turn into a loss. Was trying to stay disciplined and literally paid for it. No wonder the market gets such a bad rap… #Frustrated