I use to create alerts for setups that I would review at night. Then once the alert was triggered I would sit there and analyze the structure of the setup to make sure it still fit my system. I would then tell myself that the Currency pair wasn’t that good and if an alert was triggered for this other pairs, I would jump all over the trade. Sure enough, the alert would trigger for the other pair and I would enter the position. Since I am my harshest critic I would then follow the stock that I decided to pass on to see how it would perform. Funny enough 50% of the time the pairs that I thought was no good would outperform the pair I thought was a sure winner.
What this taught me is if my system presents me with opportunities that fit my trading parameters I need to take them on a first in first out basis because there is no benefit in further analyzing the chart. All I was doing was creating a tense situation for myself in which I was unable to make a decision.
Now what I do is set my alarms the night before and I have them sent directly to my email and cell phone. Once the alert has been triggered, I review the pairs just to make sure there isn’t some crazy event driving the price up or down at which point I enter the trade.
Taking every opportunity as they are presented to me allows me to trade in harmony with the market and not overthink the trade before me. This means I am trading in the moment and not trying to outsmart or predict what the market will do next.
Michelle