Boring day. I'm up just only $55 on two trades. I was hoping a crash would happen at the open but was unsure if it would crash or rally instead. So I stayed on the sidelines. Couldn't find a good entry on the way down. Finally did enter a short, but again it was a high risk one. Did the averaging down thing again with another order and it worked out. I think the $455 profit from yesterday is making me greedy. There were multiple opportunities that I could have make a decent $100 but I didn't take it despite my instinct telling me to. I kept hoping for the crash to continue to I can ride it but the market wouldn't do it. To be fair, it continued to crash right after I exited. I really hate it when that happens and it happens a lot. I think I need to go back to scalping instead of riding trends as sometimes it easier to get out and wait for another setup.
+$250 Actually did very little live trading today. A couple pre-market breakout plays that failed; an AMZN potential swing trade that failed to do what I wanted on 2 trades. Studied a new time frame cross-reference in crude and did some sim testing off that. CL threw great signals today, but I guess neglecting to have my breakfast power drink made me lazy OK, anyone who can explain this, please PM me: How is it that a limit order to short a small position of AMZN @ 126.00 gets filled at 126.0002???
Bad day. Did a lot of stupid trading. Lost -$685 on four trades. Started out good with a $70 profit. Tried to short at the open. Again at a high risk setup. Then tried to average down with two more lots on the way up. Had some opportunities to get out at a small lost but didn't take it. A losing day was eventually gonna happen. At the least I still have a decent amount left in my account for a comeback. Today is the last straw. I've been getting lazy with my trading and need to start adhering to my rules. This is the last time I'm risking another July 27th blowout. Trying to ride the trend did me more harm then good. I'm picking up a lot of bad habits that I need to get rid of. I need to start focusing on where I think the market will go instead of where I hope it would go as that seems to be the cause of everything. Need to stop taking high risk setups and be more patient too. Oh, well. Tomorrow is another day. A losing day was inevitable. It's good to be reminded of what a big lost feels like.
Have not posted here for a while, so figured I might as well. Up $190.52 on two USD/NOK shorts, one opened yesterday and the other early this AM.
+$807 Took .80 out of a 1.64 RTH range, which seems decent BUT I only traded from 07:40am - 11:15am ET, so I should've had far more than that (I can hear Arjun saying, "Yeah, and the problem is...??"). I took lunch during the narrow range and missed a great break out. Typical. :eek:
From the first trade, about $250. I've been averaging down because I kept entering setups too early. It was like an insurance for a bad habit. There were many times that I could have gotten out b/c I knew it was gonna be my last chance but I kept ignoring my instinct and wishing i would be able to at least break-even. It could've been worst though, I got out at about half my maximum lost.