“YOU’RE OFF TO GREAT PLACES, TODAY IS YOUR DAY” – DR. SEUSS
PREMARKET ROUTINE & THOUGHTS
- Morning routine of yoga and meditation done
- Not going to go into details, but feels like I’m getting too much negativity thrown at me this morning
- I am bringing positivity into the market and my trading 😊
- I am focused and prepared to execute my strategy to perfection
Remember the setup DOES NOT have to be PERFECT.
Could have called an audible here off the bounce of pivot, confirmed by 161.8 Fib line, that we can see on a 30 min chart.
08:58 – Volume is relatively high in this today’s premarket session in comparison to previous trading days
10:05 – Just realized I my mic was off when I was talking at 38:30 of the livestream, explaining the trade I took on Ninja Trader. Looking at the zone I marked on the chart. I took a trade long but quickly stopped out after a tiny bounce. Still have some things I need to get used to and be aware of, streaming with OBS.
10:10 – [THOUGHT] Technically, my strategy says switch to short plays, but I’m still seeing better opportunities long, even though it may not be the easiest thing to trade with all the new resistance.
10:14 – [HINDSIGHT CAPITAL] Missed an entry at 604 thanks to various distractions… Too many distractions today, especially with painting and dogs earlier.
10:29 – That trade had the direction right, just wrong time and not the best entry for my hard stop loss. One of the reasons I really prefer using price structure for placing stop loss over a hard point-based stop loss.
10:30 – [INSIGHT] The price structure stop loss typically comes with more risk but it would have worked out here. Hard point-based stop losses, you lose more often but the losses are defined and typically smaller. However, executing my entry correctly at the prime location makes the hard point-based stop loss more effective.