Breaking the Chase Cycle and Recommitting to First-Strike Entries
• Missed clean breakout in financials early in the session, followed by multiple late chases into worse entries.
• Team reminded: “if it’s on the plan and it triggers—take it”, don’t wait for better candles or second signals.
• Chase trades reviewed, all resulting in negative R/R due to poor fills and shaky conviction.
• Reinforcement of entry discipline structure, using pre-market levels as a binary decision—trigger or no trigger.
• Midday overtrading addressed, especially trades taken out of frustration after the morning miss.
• Friday execution challenge locked in: no chases, no gray setups—only clean A-tier triggers taken immediately on signal.
Summary
the team reviewed a missed financials breakout that had been clearly mapped in pre-market prep. Despite price triggering cleanly, hesitation led to skipped entries—and several traders then chased the move late with worse fills and less confidence.
Ernie emphasized that these chases consistently lead to poor outcomes: low conviction, bad entries, and tight stops that don’t hold. He reinforced the importance of treating pre-planned levels as binary decisions: when price triggers—execute.
The team also discussed the emotional fallout from missed trades, particularly how it fuels overtrading during midday chop. These trades often lacked clear structure and were driven by frustration, not conviction.
To close, a Friday execution challenge was confirmed: all traders are expected to take the first clean A-tier setup without delay. No chases. No hesitation. Just trust the work and pull the trigger.