Keep going with these outcomes, PipRider... likely to read your journal often.
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Keep going with these outcomes, PipRider... likely to read your journal often.
Not to bad a day now. I received some opportunities early on in the UK session but nothing in the usa session on account of the simple fact that each one the pairs were trading in a really quite tight range. If I had been range trading I could have made a killing now. In fact maybe I should take pride in the fact that I was able to recognize this and stayed disciplined enough not to invent a trade which didn't exist.
My first trade ceased me out, although I just took a half position on it as I was anticipating entries on additional pairs in the exact same time that did not materialize. I needed to make sure if all entries triggered I'd be able to enter them rather than be to exposed hence not inputting a full position. This went against me almost instantly. I'd take this commerce 20 mins before London open and a major spike during the opening minutes of the open took me out just to continue on its own prior move. So a lesson to be learned here is to either not exchange prior to the start or at least get out a few minutes before ensure no unnecessary losses because of random spikes.
The next trade was a full position and made cash. I took exactly the exact same trade since I had just got stopped out on, and it made me my profit within a few minutes. I was quite pleased with the fact that I was able to select the commerce again in-spite of the previous loss I continued taking close enough the exact same commerce 30 mins earlier. It shows that I'm growing as a trader and demoned the value of being consistent.
When I Stuck to The Rules Trading Summary
Total Assets to Date: 17
Caution: 12
Partial Grow: 0
Break-even: 1
Partial reduction: 2
reduction: two
Trading Overview
Total Trades to Date: 18
Wins: 6
Partial Grow: 3
Break-even: 7
Partial reduction: 2
reduction: 0
Hey PipRider.. Congratulations on your achievement so far. I have always been interested in this method, but I really don't have time during the day to await a pullback on the 5m. Could I ask what your screen watching period is? Do you merely check for a fad and then watch more carefully?
That's pretty much exactly what I do. I look to see whether the chart is trending after which I pay more attention.
If it is not I check back every 10-15 minutes.
Perhaps you could test this on a higher time frame? Just like something or 4 hour?
I didn't get to update yesterday. So I'll do it today.
Yesterday was ok I didn't make any money but then I didn't get rid of anything .
All in all it was the exact same story, I moved my stop for BE to quickly, the markets came back and took me out just to then ride off towards my profit target. 1 day I shall learn to simply put the trade on and walk off.
I had two other trades one loss and one profitable. I have to say the hardest thing for me is putting on another trade after taking a loss. I took a loss early in the morning then found myself second guessing the remaining setups through the day.
However I did take the trades and at the end of the evening got my profitable one that made me back my losses and I ended on break-even for the afternoon.
If I Stuck to The Rules Trading Summary
Total Trades to Date: 22
Wins: 16
Partial Grow: 0
Break-even: 1
Partial Loss: 2
Loss: 3
Trading Summary
Total Trades to Date: 23
Wins: 7
Partial Grow: 3
Break-even: 10
Partial Loss: 2
Loss: 1 )
OK so no upgrade yesterday because I did not manage to find any valid chances. The markets seemed to be moving quite slowly so I chose to step aside.
Now was a bit repeat of Tuesday and Wednesday. I took an early loss and subsequently made it back a bit later with a winning trade.
The annoying part is that the loss did not have to happen! Again I got a little anxious and jumped in on exactly what I believed was going to be a transfer before the London open. This subsequently took me out for a loss.
I really don't understand why I do it... I should have learnt my lesson the other day! Well this time I really will. I've written it in to my plan that I am not to take another trade before the London open!
Additionally, I bottled from what would have been profitable trades in the EU and GU approximately 15 minutes before the US news! I believed it'd be too risky so stepped aside. This is the second time this week, this has happened to me. But I guess the rules keep you from receiving in so close to the news to keep you from taking losses because this is a pretty volatile moment.
It's fruing viewing the winners, but then they could just as easily be losers.
I afterwards did not take a GU short trade since I believed the greater opportunity was going to occur in the EU, which you did not quite trigger and I saw the GU roar into profit.
I am think the greatest thing for me in the moment is that I am trying to think those transactions to much! When I am testing I am just carrying the setups as I see them, in the moment I am trying to consider external things that are keeping me from the transactions. I am to scared of taking a loss in the moment!!
Anyone have any ideas on how to overcome this?
When I Stuck into The Rules Trading Summary
Total Trades to Date: 24
Wins: 17
Partial Win: 0
Break-even: 1
Partial Loss: 2
Loss: 4
Trading Overview
Entire exemptions to Date: 25
Wins: 8
Partial Win: 3
Break-even: 10
Partial Loss: 2
Loss: 2
Well my first day trading was not bad at all. I missed an opportunity in Asia, but picked up a win in the London session. Subsequently missed another flag chance on the GU during US. I later took another brief in the EU that I left early for another small win as I realized once I was in I had sold into support. This was a good move as the price soon after rallied.
After sitting in the chat room and watching a few of the knowledgeable men playing the ranges using divergence and make a killing I made a decision to give a GU divergence set up a go. I bailed early as a result of price stalling on a previous level of support only to see it fly into the money a few candles later.
Overall a good day with 1 Win and another tiny win plus a BE.
Everything I took from today was how effective watching price across the S/R levels can be and observing for divergence really can enhance your performance.
Mentally it was a lot rougher than I anticipated. With day trading I was kind of hoping to see that my transactions go into the money straight away... on the test tool you click on distance and you are 1 time a head so you don't need to sit through the hassle, you can just fast forward to the results. Clearly you do not have this luxury trading live, so that is something I want to learn how to love with. I exited a perfectly good trade to early just because I thought price was stalling... who am I to decide... I should have just let the setup run its course, maybe move to BE but closing was not really valid at the time...
Day 1 Good day:--RRB- Missed some transactions that was a little annoying but made some good pips too.
Trading Summary
Total exemptions to Date: 3
Wins: 1
Partial Win: 1
Break-even: 1
Loss: 0