End of the month volatility today is normal.
I made one trade resulting in a small loss.
Sometimes I’m wrong about being wrong.
No one likes to admit they are wrong,
to admit you are wrong about being wrong sucks.
The trade I took was a SWAG (Super Wild Ass Guess).
My usual indicators were showing long and I took a short.
The trade was simply on ‘feeling’. Never a good way to trade
(at least for me).
The rhythm of the action was short but Delta, Schaff were Long.
The short indications were Bid / Ask and Time and Sales both showed short action.
So I took the trade short. I initially chased it 1 tick and then got filled.
The trade was fine and holding the level but then made what I saw as a significant Delta move up. The Bid/Ask and Time and Sales turned to buying.
With a higher low and the change it rhythm to long, I took my exit with a 2 tick loss. My stop was not hit and had two more ticks to be stopped out. The exit was my decision.
As it turned out, I exited at the high point of that leg and the trade again turned to short.
The images are below. It is still falling as I write this.
Sometimes being wrong about being wrong continues to suck.
But discipline is the best way to survive.