Key Takeaways:

Positives:

1. Correct Directional Bias:

   • You accurately anticipated the market's bearish continuation within the fair value gap and identified untapped liquidity below as a target.
   • The reasoning was based on solid multi-timeframe confluence: recognizing buy-side liquidity aligned with higher timeframe levels (5M, 15M, 30M).

2. Awareness of Mistakes:

   • You recognized the issue of having a stop-loss that was too tight relative to the market's structure and volatility.
   • Acknowledging the importance of adjusting stops to market conditions (e.g., using 10% of the daily ATR) shows a constructive mindset toward improvement.

3. Resilience and Perspective:

   • Although the loss stung, you are maintaining a focus on improving execution rather than doubting your analytical ability.

Areas for Improvement:

1. Stop-Loss Placement:

   • Your intuition about the stop being too tight was correct. Stops need to account for natural price fluctuations within the market structure, especially near liquidity zones.
   • Consider backtesting the daily ATR-based stop-loss adjustment to see if it aligns with your trade management strategy.

2. Trade Management:

   • Recognized the need to cut trades that conflict with the hourly trend, which would help reduce unnecessary losses.
   • You could explore partial exits or scaling out when uncertain, allowing you to lock in some profit while keeping a runner for the bigger move.

3. Patience with Execution:

   • Shutting off the computer prematurely left you without the opportunity to observe and potentially re-enter. Developing a structured exit or reassessment protocol post-trade can prevent this.

4. Missed Scalping Opportunity:

   • Taking initial scalps to cushion risk for subsequent entries is a viable strategy, especially in choppy or indecisive markets. This requires clear predefined rules to avoid overtrading.

Actionable Adjustments:

1. Stop-Loss Strategy:

   • Backtest and implement a consistent stop-loss rule, such as a percentage of the daily ATR or placing it beyond key liquidity zones.
   • Combine this with dynamic trade sizing to manage risk effectively.

2. Hourly Trend Confirmation:

   • Before entering, ensure alignment with higher timeframe trends or establish clear exceptions where you’d counter-trade.

3. Scalping with Purpose:

   • Predefine criteria for taking scalps to ensure it fits your broader strategy and prevents unnecessary risk-taking.

4. Post-Trade Reflection Plan:

   • After a loss or stop-out, spend time reviewing and reassessing the setup before shutting down. Create a quick checklist to help decide if re-entry is justified.

By addressing these areas while maintaining your solid analytical foundation, you can refine your execution and boost confidence.

I had the correct trade idea on this trade, but was literally stopped out at high of day, for it do drop massively in what would have been my favor.

This one hurts a bit but overall im glad I anticipated the correct direction still. I was stopped out with a 10 point stop and thats my problem, I should just set a consistent stoploss of a specific amount.

Maybe I will do it with 10% of the daily ATR.

Literally the moment I decided to shut off my computer screen is when the price decided not to put in any new high of days, so basically sny trade protecting that high would have resulted in a massive win. 

As I set the stoploss I had a feeling that it was too tight, but I just traded robotically. 

(Reason for trade)

- I knew that we were still in a bearish fair value gap, we had not yet tested the 50% mark of the gap, and there was still more liquidity to the downside for us to grab before we see a move higher

- The prior day high aligned with a 5 minute, 15 minute, and 30 minute buy side liquidity level, so using the 3 screen system of 2 timeframes down, any 15 minute level and below would be traded off of a 1 minute entry. 

(Things done wrong)

- Stoploss too tight

- Didnt cut trade against hourly when I knew I should have

- Could have pocketed some scalps for another entry with more cushion to risk off of first win