My Trading mistakes 3.17.25This video was a prime example of good trades taken just poor management.
As you guys can tell from my dialog, I was clearly not level headed when it came to my decision making today. I was trying to follow ICT's commentary but I was getting confused as I was also trying to interpret it with my own understanding of the current levels on my charts.
As I stated in previous videos, I was feeling lots of anxiety and emotions today because I tend to go through that after a very good trading week. I feel like it's personal confidence after a good trading week gets affected due to me striving for perfection.
We see several mistakes in this trade, I was buying at premium levels, 19,750 - 19,798.50. Till ICT commented that he would not be long here (Thanks ICT, idk what i was thinking 😂 )
I then revised my idea and saw we had traded under the Bullish fvg from 9:51am, once price trades through it that is usually one of my favorite trades to take because price tends to react very quickly to those areas.
If you're right or wrong, you will find out quickly usually.
Once price reversed, I caught a beautiful trade of over 300 points, but because it was MNQ and I had already taken several losses from forcing my trades, I needed many more points to make back the money I had lost to prior trades.
This leads to a flawed thinking of mine, I tend to target trades over 300 - 600 points..
And the problem is that often times I will be right and catch those trades, but its unrealistic of me to always expect myself to catch these trades as not every trading day will present me those price moves.
So some things I have learned today through my trading mistakes and losses:
1. Place SL above the highs when I enter a trade (the volume imbalance tapping me out made me want to cry 😢 lol) sl was hit at 10:25am.
Plan of action, be more patient with my trades and if I enter a trade, trust it fully, calculate my risk and accept the trade for what it is.
2. We failed to take profit at the 9:30am lows. It was a clean profit, inside of the 1st presented FVG. I most definitely should have taken profits there, despite my trade entry being above where price traded to and continuing lower. I most likely would've not wanted to hold through the trade or might have trailed my sl past BE causing me to get stopped out with minimal profits.
Below is the trade where we can see we could've simply risked 40 points to mave over 300.
Its better to just take the profit at the liquidity area (the lows) and then watch to see if price will continue lower or reverse for learning purposes.
There is no need to always catch 300+ moves BRUNA. Come on. Lets keep it simple.
Anyways guys, this is my attempt of analyzing my mistakes today. I am wholeheartedly in this trading journey and I wanna share all the mistakes and losses and problems with you guys in hopes that if someone is also struggling with these issues, that you might learn from my mistakes and maybe learn something from my mark ups.
If you guys enjoy this type of content I would appreciate you guys giving it a like, share with your friends. There is more to come (:
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