I have a strategy.
That strategy is meant to be used with discretion.
If 4/4 one sided we risk heavy to that side
If 3/4 then we risk less but still heavy to that side NEVER to the opposing side
if 2/4 we do not trade under any circumstance
Simple as possible. 4/4 risk heavy, 3/4 risk less but still to that direction ONLY, 2/4 do not trade.
What did I do wrong today?
1. 3/4 but went in opposing direction
Thats it, that is my only mistake. Why did I do this?
1. I used discretion and prior market knowledge to assume that shorting will never work as we break into ATHs
Why did I think that?
1. I tried to be smarter than my strategy
Will that ever work? Thinking you are smarter than your strategy?
1. YES, it does work pretty often but its a losing game. Everytime I think I am smarter than my strategy I create a habit of doing it again rather than creating the habit of simply doing what the strategy says and that is it.
What to do moving forward?
1. follow the strategy only, there is no room for interpretation other than the size I use. From here on I will mark every DRC in the title as either a (+) or a (-) and that will not be related whatsoever to my PNL. It is related to only the strategy. Did I listen to my strategy? Did I lose a ton but it was an A+ day? Did I attempt a trade when it was 50/50? All of those factors will come into play here.