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Man I was reading your post and thought you took a big loser or something then I look at the PnL and you cleared 13k Awesome man. How many days in a row has it been now?
I reversed 2 times unnecessarily (with a loss) when I “knew” prices were supposed to do that (“shake” the market wildly). My expectations were higher... but the market didn’t care
Today is a national Holiday in Brazil (Holy Marys Day), so it's time to have some (kind of) fun in international (at least for me) markets.
As the (London time) market was a little choppy this morning, I decided to implement an idea: divided my limit position size (21 contracts) in 3 equal parts (of 7 contracts each) in order to limit my risk while I traded in that small range (5 to 10 cents), always looking for (trend line) breakouts and pullbacks, taking partial profits in the measured movements.
It's been almost 2 months since I started trading crude oil and things are going pretty well.
I think that the content of this thread is not useful the way it is (I don't want to post my PnL without a specific reason). Besides, my methodology is too subjective (but really very simple) and I can't describe the logic behind it (even to someone in the same room). "Confluence" is a relatively easy concept to grasp, but it's hard to apply it successfully in real-time...
Of course it's still a trading journal, so I'll write here only stuff I consider relevant, like the MANY mistakes (mostly cognitive biases) I do on a daily basis.
Yesterday I had my first loss (-7k net). I was 8k positive and decided it was not ok: in my "analysis", the market had to fall 50 cents up to a dollar (!), 'cause I needed to prove myself I could do better than I've been doing so far. So I shorted 21 contracts @71.01 before lunch and got distracted doing stuff for hours... waiting for the market to obey me . And I was willing to hold my position till the end... and so I did. I exited before the interruption with 7k in losses for the day.
I wasn't even mad with myself. It was a cheap lesson, considering my stupidity. Today is another day and everything is still wonderful.