-242 today.... Just couldn't read the market well. 1 win for 1.5 and all other losses. It was one mistake after another. On the first trade, there was no divergence but since the market was strong, I felt it safe to go long and lost 4 pts. Second trade was valid-set-up but the trailing stop got me out with 1.5 gain. I should have skipped the third trade because the market was extended. The fourth trade was a valid set-up but the divergence wasn't as strong so shoould have stayed on the sideline. Even with this the average loss comes to about 1.5 pts. so there is something to be glad about.
Good luck on your return to trading. So you're averaging about 4-6 pts per win, and maximum drawdown so far a 4 pt loss? When you mean divergences, do you overlay one chart over another? Or is it an indicator vs. price divergence?
Thanks...I use both indicator and price. Indicator to tell me when it is less risky to enter, but I always look for a confirmation from the price to actually enter the trade. I use divergence on multiple indexes and/or ETFs. The drawdown and win numbers look right.
find yourself a better hobby. I guarantee you will make more money selling kool aid in front of your house , than drinking the kool aid these clowns are selling.
I'm not really concerned about the naysayers....I'm sure they will show up if I have few more losing days just to say, "I told you so".
It takes courage to discuss a bad trade, which is what helps one learns, good that you are not bothered by them.
+350 today. There was a divergence in the morning and I was expecting a reversal. I entered short but got stopped out with .5 loss on a trailing stop. I should have re-entered again at 62.5 but hesitated. Reversals are usually good for 10 points that I missed. The second trade was a weak divergence, so I traded 1 only but should have stayed on the sideline. This is similar to my last trade from yesterday (should have learnt the lesson). The lasst trade was the ideal divergence, where I was expecting a reversal. Ended up exactly like I thought it would. I need to do a better job of following my plan and when the strong set-ups occur, enter without questioning. Sometimes I am just staying there staring as a deer in a head-light.
-246 today. 2 trades in the morning and 2 losses. I was expecting a reversal and went long but got stopped out with losses. I went back and looked at my charts and noticed that the reversals are usually storong as all the indexes are making new highs/lows. Today Russell was still trading in a range. Still profitable this week. Hopefully next week will be better.