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Weekly Review: 5/1/23 to 5/5/23

 

My Weekly Review Process

OVERVIEW

I started the week off with a tough day on Monday, where I tried and executed plans well, but nothing worked out. I had small losses and even smaller gains to show for my efforts. This day ended up being a loss day with some frustration.

Tuesday is clearly a day that was not expected and goes to show the power of the market when you are on the right side. But, of course, I was on the other side of it, and this was more of a wake-up call to further start another paradigm shift within my trading. 

I had a feeling that this day would be a game changer, but little did I know I would be getting the short end of the stick. I had plans to enter on the rejects but have yet to pull the trigger, and when it was available, the opportunity was just gone. However, I was confident in the bounces and wanted to focus on those.

It did not matter what I did. Price action kept breaking support after support. Finally, as my conviction and confidence grew, the market shattered everything. This day was definitely a rare day, and off all days, I built up my self-belief/confidence on this day. Never fails. 

I had a slim opportunity to get in on the downside, but usually, when I do, the way the events unfold is what I expected this day, but they did not go that way today.

This day has shown me that my psychology and the way I trade, the how, the when, and the why I sell, are a vast hindrance. 

This frustrates me, and it is now clear that I made this happen and that the issue is me. I am here now and must rectify and overcome this aspect of my trading.

This is my journey and my journey alone. I will not give up. Failure is a path to success.

It is self-evident that the self is the one thing standing in my way.

Wednesday served as a day for reflection and to sit back and observe the markets. Therefore, I did not take any trades this day.

I have progressed in other trading areas, but the self overshadows those successes. They do not matter here, now. The how, when, and why are the problems right now. What I trade are the specific patterns, which are always there, some better than others, but how, when, and why part of trading is more beneficial for long-term success and a better foundation moving forward.

The when with my trading stifles me from getting in or exiting too soon. TIME
The how with my trading always pulls me back from where I want to be. SELF
The why with my trading is why I cannot move forward. SELF

I can work on timing. For the self, I need more time to change these.
Patience and mindfulness are the keys I need to forge.

Thursday was a simple day. I let the pieces fall where they wanted to and took the small gains.

I am honing in on my psychological development and creating a baseline for my Cognitive Behavioral Therapy (CBT). Working on my formulation now and creating a spreadsheet to track everything so I can actively manage my progress.

I was mindful today and just took what was freely given.

On Friday, it became clear that superfluous processes must be eliminated. They will muddy the waters of action. This goes for both physical and internal/psychological processes.

Clarity will enable growth.

Understanding and listening are the foundations of change.

I continued to make a stride in developing my CBT formulation while I was 100% ready to execute trades, but the market just wanted to go straight up and have the best breakout we have seen in a while. Sucks, but really not my pattern right now, did have this on my list at one point, but I am only honing in on the directional RZ cross-overs for now. We didn't even get pullbacks for confirmations like I wanted. 

I was frustrated but content with developing tools to better manage  the "self."

We shall see what the future holds very soon.



NEW GOALS FOR NEXT WEEK

This is precisely where I need to be.  So I will make progress next week in my CBT formulation and start implementation soon. For trading, mindfulness is the way forward.

  • Focus on Intraday System Pattern A.
    • Pattern A: reaction zone crossovers with confirmations for an RZ reject or bounce. 
  • (1) CONTRACT SIZE.
  • BE PATIENT FOR ENTRIES AND EXITS.
    • If move in favor, take partial or all profits to minimize risk.
    • Patience will give me what I seek.
  • BE MINDFUL.
  • THE WHEN WHY, AND HOW OF MY TRADING NEED TO CHANGE.
    • it is a time and self game now.

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