Friday Log - No Panic Button

Made a couple points on the open/close set-up early in the regular session. Put into account previous days resistance in the 47-49 area so I wasn't expecting much to upside. Lack of quick action let most of the opportunity dwindle. Hit first long target with remainder break even Result: +2.0

Went long again using 43-44 area as support as well as combo thinking from overnight high. Got on the wrong side and then failed to use my stop "thinking" 41 was the extreme bottom. Wrong again. I averaged in as price continued down which wasn't a smart move. Had a stop set in 35's but from previous observations and experience, anticipated price to retrace to around 50% of the move...which it eventually did. Thought price would bust through 44's and test the 46-49 area and maybe get to 51's. Price never made it and I stayed in a bit too long. Result: -5.50

A couple things I learned today was even though the position went against me and I did not play the trade sequence in a smart, well planned manner, I did not panic like I used to do in the past. I saw I was on the wrong side of the combo, saw the H&S forming on the 5 min but stayed fairly cool and collected. I'm finding myself becoming more familiar with the rhythm and flow of price action and anticipating what it might "logically" do even though course was not reversed today as I should have.

I was aware of EWS combo, the perils of averaging in on a losing position and still need to develop better habits to avoid those negative situations. Still, what I got out of it was no panic. Emotional stability seems to have been achieved even in adverse trading situations. Now I need to see if I can continue the emotional calm while also improving my trading habits...no doubt I will. Life is good.

Trade Well !