This week was very tough for my strategy. I think its important to start noticing what the weekly pattern was and then see how my system performs on that specific type of pattern rather than just going over the week and seeing if it was "good or not". Again that is somewhat me judging my performance rather than me judging the systems performance.
How will I define the system as "good" or "bad" for the week?
1. How many times was there Strong momentum? What was the duration?
2. How many times was there Weak momentum? Duration?
3. How many times was there Neutral momentum? Duration?
4. How many flips did we have on the session? Bear to Bull or Bull to Bear
2. 1 (30m)
3.1 (1hr 15m)
1. 1 (45m)
2. 1 (6m)
2. 1 (1hr)
1. 1 (20m)
2. 1 (10m)
3. 1 (30m)
Weekly, Daily, Monthly, 4h
1. week after huge up week
2. tight consolidation at highs
3. any dip got bought to continue fomo buying from last week
Normal weekly review
First of all this entire day was total read wrong. There was not 1 single moment of bearish strong momentum. not 1. Why did I say that it was strong bearish? I think sometimes when I see Weight moving lower and ADD VOLD are also moving strongly lower but Weight is above OP, I need to stay very very careful. That is not strong momentum whatsoever. That makes zero sense. Again if not strong momentum then what type of entries do we use? 2m FVG or IR or 5m FVG IR. We do not use 5m new high entries when things are weak. that is a momentum execution strategy that will not work on weak trending periods. First trade was quite nice actually. Second and third trades easily avoidable if I read my system correctly.
Went against my system and went short for some reason. Wow this is only day 2 of the week and I already misread my system 2 times. Insane. Very bad.
This was much better although I did take more than a few entries that are questionable. Again somewhat misread my system and made VOLD strong bearish even though it wasnt making a new LOD back to back. I think so long as 2 internals are making new LOD back to back its safe to assume its strong bearish. Again I missed quite a few entries for 5m countertrend and im not sure why I didnt write about it in the DRC. In reality this day shouldve been probably a 15 point day within my system. I think yet again I was trading my pnl. I was up like $500 and thats a lot to me so I was more willing to sit on my hands yet had I just been following system it would have been a massive day. possible enough to even get me funded.