Weekly PNL and Video for new Traders

Heres a long Trade Breakdown which you guys requested and my stats for the week.

Every new Trader should watch this first

Watch this:

PNL of the Week

Recap & Goals for the Week.

Reflecting on the The last 1-2 Weeks I think tried too hard to optimize my strategy and my edge. As well as put a lot of effort into my daily recaps and planning and learning of my bigger timeframe analysis which I don’t even actual use right now. in general is / could be a good thing. But like everything there is a fine line between enough, just right and too much. And I focused too much on this part. Which not just led to obviously worse execution and making it harder on the mental part. (Which is normal and to be expected when you switch things up a little bit) but also I did end up spending less time on my Visualization drills aswell as reflecting on my emotions. I was just too much focus on the technical edge the last 2 weeks especially last week. And not putting in enough work on the mental part which is the worst part of my trading and the thing I need to work on the most anyways. And it was getting worse worse till the end of the past 2 weeks cause the work you put in outside of the chart is a lagging indicator of your trading performance in that specific area. The problem and thing now is I don’t even really know if the changes to my trading are actually a good or bad thing or have a better or worse expected value. Cause even when 1-2 weeks of data would be too little anyways now the data is even more useless cause I tilted multiple times and executed poorly. Biggest Takeaway: when I do think I see some things that would/could improve my edge just implement them extremely slowly - in micro steps. Be more patient even if you are pretty sure that the changes are a good thing to your EV cause they won’t be if you implement them too fast and your data on them will be a mess on top of it from the very start which makes it extremely hard for to long run to optimize if the data is screwed to begin with.

Goals for this week.

• This week is all about mental and execution over anything - not about PNL at all even less than usual, it’s about getting my mind back into the right place.
• Double down on visualization drills and put more emphasis on reflecting on the emotions after each trading sessions and how I felt before/during and after a trade rather than on the stats.
• If I break any rules or eat 2 full stopouts in a row I take at least a 5min break.
• If I am up with an amount I am happy with for the day I quit.
• If I recognize myself executing poorly win or loss I take a 5min break.
• If I catch myself getting emotional I take a 5min break.
• only 1 lot first entries. 2. lot only in my breakout setup and only if stars allign and once in profit aswell and cut immediately when don’t work.
• Keep the trading extremely simple. To execute correctly and keeping the emotions in check so only my 3 favorite type of setups
• Cut not working trades faster you can always renter and there will always be another setup

Setups allowed to take:

1. strong limit buying at the high of a bellcurve/no 50+ sell orders and barely any midsize. And the moment retail sellers stop selling into the reloading bid i want to see big buyers hit. No hesitation once they do. Adding 1 contract is allowed after the break but maximal 1-2 ticks above the low node/skipped proce which we broke through and the 2 contract will be pulled immediately in case we fall back into the previous bellcurve on the first pivot higher as close to BE as possible.
2. in a completely overextended move if we break a previous „skipped price“ which has less than or maximal 3 contracts on the footprint on the sell side in an uptrend f.e. Try to get short on the first retest of the level once it’s broken to the downside (very tight stop should not really trade above it again) it should really flush fast cause there should be a lack of liquidity in the market that’s created cause of the strong pumice. hold the trade till you see the limit buying getting stronger again or if you see big market buying come back in cut it immediately.
3. if price is ranging and you see a lot of retail buying getting stuck at near a high take it short back down to low of the bellcurve/maybe take it off at POC if you it getting rejected there if it’s just hanging around POC and pivoting in a tight range for a bit leave the trade on till the lows of the bellcurve with a TP set just below the lows of the bellcurve in case big sellers just wanna come in and flush it but don’t hesitate to pull it at the low if you don’t see big sellers come in.