Daily setup: breakdown of 3 inside days
Entry/play: short after 1 min pullback
Management: I got in early, so had to hold to where I thought it could bounce. Stopping above that would have HURT. After it bounced where I thought and came back down, I added. Quickly reduced stop. Took p/l target and then squeezed stop, since it ran straight down while market was bouncing.
Psychology: Great. I left a lot on the table by squeezing stop, but that was the right thing to do. Spreads were huge, I was in mega-sized, and market was going against me. I like how I traded this mostly because it was a winner. If I had lost I would have said I was in too big... spreads too big... so I guess actually I got lucky. And when handed luck, I'm not upset to take my piece, and peace!
Popular Posts
-
Sometimes I get feedback that this trading journal is very harsh. I guess it is. Especially when I get out of the habit of journalling eve...
-
I follow and admire the trader Mark Melnick. His Newsbeat trading room (of which I am intermittently a member) and his YouTube Newsbeat vide...
-
Overdid it on a Friday. JD was a proper setup and worked great for terrific gains. CRM was not a proper setup. It didn't work and I hac...
-
It's been a pretty intense holiday season this year, cutting my trading days but also helping me get a refresh. In general, though, this...