It was a bloodshed week for the market. All of my aggressive and rule bending entries were exposed to losses. There was a pull back to Fib 50% Rt on Fed Min release Wednesday. I planed to exit some positions to reduce risk the next day. It was a much bigger sell off before my hope of further up was gone. I had to roll out my 1850, 1840 and 1830 in S5 on Friday. Obviously this week's trading result was a disaster. I ended it with -$2.6K and uncertainty of these roll over would work. I think taking stop at 1.5-2X of my cost is still a better way to deal with loss than roll over at 3-10X losses.
Grains have paid off nicely so far and would show up in next week's results. I have to watch out wheat 680 and corn 510 since both are near the money with Monday's pop on Ukraine tension and strong export report. Weather may be a factor in the next few days. Some of the grain region are having snow in the mid of April.
I need to spend more time on preparation of my trades, mainly identify levels of S&R, having a plan for each day. I will install Ever Note to keep track of my plan, thought process and emotions.
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