I have been trying to trade RTH lately while at my 9-5 job, but have realized that both my work and trading performance was declining, so I have decided to give the mid London Session a try. My goal is to switch back to sim and trade from 4:15 AM - 6:30 AM ET. Once I can be consistently profitable on sim, I will switch over to live trading again.
The goal of this journal is to keep myself accountable, track my progress, and receive some constructive criticism.
Day 1:
Trade 1:
Entry: TL and Resistance bounce, MA cross
Exit: Broke even. Should have exited earlier once resistance held twice @ 96.78
Analysis: I would have taken the trade in hindsight. Should have managed exit better.
Trade 2:
Entry: Resistance bounce and DT
Exit: TL exit, tight PT and SL since it was counter-trend.
Analysis: Good trade. Made sure I had tight SL in since it was counter-trend.
Trade 3:
Entry: TL bounce
Exit: Broke even. Failed to break through resistance from two previous trades.
Analysis: Well managed trade. Had upside potential, but exited when failed to break resistance.
Trade 4:
Entry: Continuation trade after new trend developed. TL bounce and MA cross.
Exit: Exited at previous swing low, also where multiple swings had happened during session.
Analysis: Locked in my profit, but could have let it run a little longer. I will be taking profits until I am comfortable adding a runner during live trading.