Yes, it is. Trade it fearlessly. Yes, you have, and it's a rare thing among aspiring traders. Keep calm and carry on
12 Jun 2012 recap Today I traded from around 0900 to 1000. I really wanted to get some trades in for the experience, but knew I was forcing it as I knew I wouldn't be around the whole day. I had no problem sticking to my plan. I took two trades and two losses and gave back most of what I earned yesterday. During the time I was trading, I saw we were in a range. I very hesitantly bought at the top of the range, twice. This made me realize a slight flaw in my strategy. I am only prepared to trade trends. My intuition told me I shouldn't have placed the trades I did. This conflicted with what I observed yesterday, being that had I taken all the trades I saw, I would have come out with $800 instead of $200 yesterday. Around 1000, I left for the day. Today I could have easily come out ahead. After 1000, the trend was clearly up. Of the trades I could/should have possibly made today: Range: 1 Loser (1.5 points) 1 Winner (2 points) Trend: 8 Winners (2 points)
13 Jun 12 Another day that required recognition of range trading. Even though I was able to realize I shouldn't buy at the top of the range we were in during the beginning of the day, it was still difficult to come out ahead. I'm thinking of adapting my strategy a little bit to hang onto winners. I cut my last trade short as I shorted at the top of the range, took two points, and the market continued to fall.
Feels like I'm cherry picking the winners/losers in recap. Since the pattern I look for is subjective, it's easier to see in hindsight, but I might be leaving out trades I would take in real time.
Started trading after noon today, so I missed some good moves. Took 1 trade today. Left so much money on the table. I feel like moving averages are just too latent and don't give you the opportunity to enter trades quickly enough if you wait for them to confirm price trend. I'm pretty sure I'm going to scrap moving averages. I cut the one trade I did too early because I felt the market was just too slow. Would have hit the 2 pt target.
Missed best trades again. Hard to trade when you are on what little time you get for vacation. Though it doesn't seem to matter. Trade the plan I still get fucked. Ended the week slightly down approx ($200).