CHFSGD 3H BUOB Trade - Win

CHFSGD H1

Pretty much stated everything I wanted to say in the journal entry. Again do notice how sharply and quickly price shot up the compressed down leg to the origin of the compression. This is because pro money has removed all the supply on the way down and there was no supply at all until the origin of the down move. As such there is nothing to stop price from shooting up. In fact there're a few other compression examples in the same chart, can you spot them? :) Compression has changed my trading, seriously it is such a powerful tool to have. There are some more points I want to add but I think I'll mention them in my monthly review post as they are stuff I've been thinking a lot about which deserve a post of its own.

CHFSGD Daily BEOB Trade - Win

CHFSGD Daily

So here is the first entry of my trade journal. I'm not very happy about this trade, for the reason stated in the screenshot. While it is not my fault that I failed to notice the S/R flip level until I'm in the trade, I still think that I'm not disciplined enough. The past few days have been very dull and I could feel the itchy fingers syndrome sneaking up. I need to be razor sharp focused, patient, and disciplined at all times. I have to trade like a sniper, I cannot afford to be hasty. I'm not a bad trader if I go for days without trading and everyone else is killing the markets, I'm a bad trader if I start taking sub optimal trades just to feel part of the crowd.

Pranti's PDF really reminded me of a lot of things, and I need to be even more determined to only take the very best trades with a good R:R ratio. I do believe that there exists a feeling of absolute confidence that a trade will go well. This feeling has only occurred twice for me this month - AUDNZD and GBPCAD trades. When I took those trades I was very relaxed and not anxious at all. It was as if I knew for sure the trades will work out, and they did. I need to only take trades which give me this kind of feeling. Such is the selectivity and discipline that is imperative to being a good trader.