I started the day with what I believed was a good preparation. In this preparation I accounted for the possibility that today could be a very quiet day in terms of price movement.
With the past two days experience I was determined not to chase the price action and get caught into the trap of trading without any conviction about direction. Nevertheless to start the day off I did get involved at levels that I thougth could hold. Having tried these on several occasions and getting the direction wront I decided to stay out until a move.
I think overall I did ok, in comparison with previous sessions, as I got half of the initial losses back from the only decent move all day. Nevertheless perhaps if I had not rushed into the market at the start of the day, even if I had only done 1 winning trade, that would have ultimately yielded a positive P&L.
I did not see any good range trading opportunities today and given the amount I had lost already it would hace been too much of a gamble. For tomorrow I hope to see some movement to the quality of my level picking. It if range trades I shall stay in only if the market goes immediately on my side.
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