Great Trade, Wrong Stock

2 Trades on the 3rd day of the exercise

Ok, I say wrong stock because I choose the stock off of the up on earnings scanner instead of the ORB scanner :)! Either-way, it was a great trade due to the fact that I executed my trade plan in its entirety. I am not focused on profit as much as I am the execution of the trade plan that I have put in place. In the case of this stock, the first trade was warranted, because there was a trading range below the opening range that would have made the trade worth entering, however, upon inspection of the supply areas on the chart, the pre-market high put in major resistance throughout the day and should have precluded me from entering the second trade @ 9:50. (see the attached picture)

Blank Charts

This exercise is really helping me to watch the price action of the trades that I enter as well as helping me to adjust the share size of my entry to give the stock a true opportunity to reach the defined targets. I still have 17 more days of this exercise but what I can say is that it is really helping with the anxiety that I have when I enter because I have already predefined my risk and I am allowing the trade to work. Of course I have not been profitable yet, but what I can say is that in retrospect I would not have take these trades due to the supply areas that blocked the ability to make at-least 1.5/1. I do believe however, that I will continue to trade the naked charts. I fill like it reduces the noise and allow me to truly understand the direction of the market! Lets go next week!!!