Took an L just now. 2 Ls. 1st trade on ES WAS CUZ it was the volume spike at 9:35 so I waited for 5 minutes for the market to settle. Then we just dropped. This was RED FLAG so I stopped out. The 2nd trade was when we dropped then we bidded higher INDICATING buyers responsiveness. Unfortunately, stopped out too. I sized up on the first trade which made it a medium-sized loser. Then again, on the second trade. The consequences weren't that bad tho. Mistakes I did:- 1) NQ was in supply so took calls; 2) Didn't respect my stop religiously. I mean it was a red flag so stopped out.
I don't ducking know why would I take this?? I didn't see a volume push above the high. For you to play this, you gotta always have this kind of volume!!!! Also, if you play, ALWAYS play when you see VVM develop towards that LEVEL. Don't hesitate! Instead see the market context and fucking react! I always hesitate whether the trigger is right or no. Therefore, in order to combat this, always wait for a pullback to demand OR wait for a pullback overall. Once you see buyers step in after the pullback, ONCE YOU SEE BUYERS STEP IN after the pullback, GET IN and put stop at the point where buyers stepped in. STOP OUT when needed.
Things I did wrong:- Not looking at 5 min and focusing only on 1 min. Not putting stops wide enough. My emotions were flaring all over the place which made me like overtrade 1 trade. Then I had to stop. The second trade made me feel like I would lose potential profits. However, if I have a stop, why would you not respect it? In order to prevent this, ALWAYS look at market context and how things are developing. Are we pushing above supply? Are we making higher highs/lows ets