NoDoji - That was definitely tough love but that is ok I appreciate it. As a follow up to my post on friday and in response to you, you are correct. It wasn't a poor setup on friday, it wasn't a setup at all. Later on I was sitting there thinking and wondering why I took the trade when I knew there wasn't a setup. I actually did see a setup on FCX and I didn't take it instead I took the AMZN trade. I guess since I had just had a solid week I thought I would do one more trade for the week. I will not be doing that anymore. The reason I said I would more than likely not be trading Friday's anymore wasn't necessarily because of the setups, it was because if I am trading the weekly options that expire that day the time value and everything are working against you much worse than normal. There isn't much room for error, so I guess a sensible thing to do would be trade the monthly or next weekly contract instead. Between this week and the week before I made some huge changes in my trading and managed to realize many things I was doing wrong and needed to correct. I still have several things that I need to work on (position sizing, probabilities, etc) that you pointed out though and need to work on consistency with a plan as well. As always I appreciate the tough love and for your help with everything.
I wanted to thank NoDoji for the posts on price action and the nuggets of wisdom. I'm a beginner and have spent the last 6 months reading twice Brooks's trilogy. On my roadmap the next step in my theoretical training is reading ND's posts, I mean, all of them I am very impressed by your words on backtesting and will dedicate to the subject my efforts in next months. In the meantime I am annotating at the end of the day all the trades I see on the intraday chart for the markets I follow, a basket of European stocks. So, Thanks for the most useful contribution.