I struggled to find low-risk entries today. I did have two, but then I forced a lot of others. I need to avoid entering trades during the chop. My wins are always bigger than my losses but I'm suffering from "death by a thousand cuts." I try to predict where price will go next instead of waiting for price to actually go somewhere. The result is that when price is at equilibrium, I take every slight extension that reverts back into the chop zone. I become a victim of the "heartbeat pattern" as I like to call it. Price stagnates, then jolts one way out of the zone, then jolts the opposite way out of the zone, and then decides where to go after that. It's a typical move by wholesalers clearing out stops on either side before a true direction is decided. Unfortunately, when I watch charts for hours on end without getting my setup, I fall victim to these traps. There were 3 good opportunities presented today, and I took 2 of them (the third was more risky and did not yield a very good move). Unfortunately, I decided to get whipped about 9 other times, including a trade I took while writing this. It seems valid, but of course volume has decreased (noon EST) so we'll just call it another loss!
Today's results: -4R
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