Trade Review
Trades for 3/6/23 -
- https://www.TradeInsights.net/Traders/PriceActionTrader1/Shared/TradeSummary/SPY/4602978
- https://www.TradeInsights.net/Traders/PriceActionTrader1/Shared/TradeSummary/SPY/4602982
- https://www.TradeInsights.net/Traders/PriceActionTrader1/Shared/TradeSummary/SPY/4602981
Summary -
Bad day today. Broke my own rules. Should have waited for the price to close below VWAP and 5EMA for short. All 3 trades that I took today were above VWAP and I took short positions. I need to get disciplined.
Mistakes -
- Played short position in anticipation as the price was approaching the supply zone
- Didn't go with the trend - I took short positions in an uptrend
- Short biased - Had already decided that I would take short positions so that biased my ability to judge the price action
- Didn't let price close below both VWAP and 5 EMA - I opened a short position when price closed below 5 EMA but it was well above VWAP.