In the ES Market today, I noticed that it really wasn't moving and formed what I would call a trading channel. I was looking for a breakout of that channel, and specifically looking for a reason to go SHORT. Here is where my trading plan met up to me ... my trading plan would have passed on this trade, but the human in me took this trade. Why? GREED that's why! I allowed myself to believe that this was a valid entry, although there was no Green Volume Bar to show me the way.
When I think back on this trade, I know that I was trying to make money when the market wasn't ready to trade. I was running short on time, and had a time out with my boys scheduled. We went to the Steelers Training Camp and had a blast!
So for a variety of poor trading decisions, I allowed myself to take on a trade that I had no reason in hindsight being in. So bottomline, on this trade was for every 2 contracts traded it was a loss of $200 or $100 for every contract traded.
David AKA Tiger
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