Day 2 of 21

Premarket levels show the previous day and overnight session contained within a 50 pt range with a slightly LH and LL in the ON session. AOP=4764 nearly equaling the prev day close.

I had the music playing and I was feeling relaxed waiting for an opportunity to present itself. I missed the bounce off the prev day low because I had nothing showing confirmation. At about 10:30 triangles started forming on price, tick and BHP so my trigger finger started getting itchy.

Then I saw price move up, which by itself does not mean much to me, and out of the corner of my eye I see the S&P pop up hard after being very quiet. I see BHP break up (see blue marker on chart) and I go long 1 @ 4776 without much thought. Immediately doubt creeps in (what about tick? where do I put my stop?...) and the heart rate goes up. I leave the stop maxed out at the preset 8 pts (4768) and start thinking about how to get out. I see the volume spike fairly quickly and think about how I gave up all that profit yesterday. I'm out when I see it pause just above the morning high for +10 pts. The heart rate comes back down!!!!

What I liked:

Relaxed going into the trade.

Prepared my premise for a possible trade.

Pulled the trigger without hesitation.

Stuck to my plan of 1 max trade.

Profit.

What I need to improve:

Stay relaxed during the trade.

Need more thought on stop placement before placing trade.

Fail safe plan when trade does not feel good. (ex. trail stop using last bar on tick chart)