Prev. Goal Date: 11-9-15 (+3 days). Current Goal Date: 11-10-15( +4 days)
Pips This session: +3.23 pips Goal Met? NO.
Boy, I am really learning patience. I trade from 3:00am to 10:00am each day. Usually, I really do not need to wait too long for trade setups, but the first 2 days of this trading week have certainly broken my comfort zone. There were no trade setups during the London session. You try sitting for 4 hours and get nothing. Just sitting and wating with no results will test the mettle of any trader. Thoughts run through ones' head like:
-Is my platform on? ( I checked).
-Is my chart working properly? ( I refreshed several times).
-Did my trading method die, noever to give me another pattern? ( I reviewed the charts for previous setups to remind myself to relax.)
And here is the big one:
-Maybe I need to look for another system. ( I got up and walked away. I was ready to start system hopping!)
Lesson for the 3 hour parking lot, better known as a trade-less trading time: Trust your system, and learn to wait.
Trade Update: I took my first loss in 6 days.
Commentary on Trade #1. The GBPUSD had a short bias since yesterday. I saw an opportunity to go long based on a possible trend change, and got clipped for -35 pips. So what do you do when you take a loss, the first loss in 6 days? Move on to the next trade!
Trade #2: Recovery Trade Recoups Trade #1 loss.
Commentary on Trade #2. I saw a failure swing, aka 123 setup. This trade recouped the earlier loss.
Although we did not make our pip goal, we did not take a loss, and that is what's most important.
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