Did not get into the flow of price action today.
Took 2 trades, both failed. Usually the day after a big winner the trader is brimming with confidence. A never can lose attitude. He can force trades into the market believing he’s figured it out. He treats the first loss as an annoyance by putting on another trade that quite doesn’t fit his setup, believing he can make it all back and more. These are the days to be careful of.
Luckily for me I have enough experience, after 2 losses I call it a day. There will be more opportunities tomorrow, next week and in the next few months. Always look ahead, you never ever want to sabotage the ability to continue to trade into the distant future.
I had a feeling with the ADP data release at 8.15 a.m. - private job growth came in at 89,000 for September, down from the revised 180,000 in August and much below the 160,000 estimate - the market would like the number and we could have a rally, but the early rejection at ONH - overnight high and the subsequent 30 point sell off baffled me.