out -4. This doesn't work so late in the evening it seems. Should stick to daytrading hours for that kind of stuf.
Just what I thought reading post #110... what is he doing after all that mayhem today? 6M charts = 6 months...?! I appreciate your honest journal!
yup, yesterday was a classic example of impulsive overtrading. I made some adjustments to my trading plan: basically only taking trades with the trend and only on exceptioon a countertrend trade (with sto diverging) I hope things will go smoother from now on.
short eurusd 1.12625 because of engulfer of ema50 with fluid sto making a hook in overbought with hidden divergence. Aiming for 18 pips. EDIT: out -5 pips. Still making the same old mistake of taking countertrendtrades.
I am now long at 1.12665, with the major trend after upbar after two doji's. Aiming for 18 pips. My reasoning for this trade is doji at ema200, followed by another doji, followed by impulse bar with the trend while sto was crossing the 50 line with a hook. EDIT: sold for be after we broke inside bar. Still lacking patience for the right setup to show itself. I really got to handle that problem or my trading will be doomed ... Got to really wait for oversold if I want to go long since both eurusd and gbpusd are in an uptrend.
Did one more trade nicely with the uptrend in eurusd when sto was oversold and we did an engulfer for +12 pips, got out just before NFP since I did not want to take that risk. Too bad since the uptrend continued after that in full force.
Short eurusd with 15M overbought in sto and 5M formed a double top at 1.1318. Targeting ema200 on the 5M.
out -6 pips. I know where I went wrong: the double top was not setup right. More things to learn it seems. Went long now in eurusd @1.1329 when we broke out of 15M level high. EDIT: got out manually for +10 since it formed a doji on the 5M bar. Don't want to push my luck here.