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I came across 3 high probability signals this morning as outlined below:
1. Encountered technical issues and missed a great Long trade around 9:15 am
2. A good short signal with down divergence unfortunately close to the 10:00 am news
3. A good short signal around 11:24 (late realization). I was too rigid on my entry requirements and it's almost close to OB.
There're other valid signals that I chose not to consider. Why? The HA bars were too big (required a logical 9-10 tick SL) and my preferred 6-tick SL cushion is not big enough. What's the point of placing a trade when my baby SL may get hit easily!
Soooo, my 10-trade live log still has room for 8 LOL! I will fill them in the coming week.
It's Thanksgiving weekend .. the market slows down .. ditto here for live trading. I will do more practice for the interim until a successful start next week. Hey, I will work on an online business offering my services to young professionals/newbies who are interested in trading. Oh, I'm an advanced newbie and may be a good example for elementary/intermediate newbies?!
Take care and enjoy a Relaxing Thanksgiving weekend! Turkey meal ..
Hi Beth
Glad you are going to complete the 10 trade experiment.
When you have done the trades - reward yourself.
When you review your performance - look at what you did well as well as where you could improve.
I suggest not to over analyse each individual trade - just execute well and save the analysis for the end.
Dont forget - you 'reallocated' ( mentally) the funds for this experiment - dont put the funds back into your main account until the experiment is over.
Regards
Lindsay
It's a great suggestion to reward myself! Let me start writing my wish list .. haha ..
I took Nelson out for an early Thanksgiving dinner .. at our favorite Middle East restaurant. If you feel like having glimpses of our dishes (incl us .. smile ..), simply visit our most recent album in a few minutes. Oh, we completed 2/3 of the vision board in the living room too. This round I engaged Nelson more. He selected some photos/graphics and positioned them on the board. Really work well on his psyche!
Nelson and I would like to express our heartfelt thanks for your generous sharing and tips since my joining the Big Mike family last December! Hey, we have 1,000 members visiting this thread! Thank You!!
Enjoy a delicious Thanksgiving meal and stay warm!
This morning has been quite choppy (no surprise after a drop of 200 pips). Did not come across a signal that I really like to do live .. not the morning session until 12:00 noon anyway.
Guess what I did over the weekend??
1. Did more market replay practice. I now have some colorful stickers (can't miss them) to remind my paying more attention to the OB/OS osc indicator for an early exit warning. When I was in a trade (real or sim), I quite often missed checking that. I am going to amend my checklist to include the same!
2. I recorded 2 videos sharing some tips with those who may consider Trading. More to come when I have time/mood .. haha .. Took me 6 hours to upload them to YouTube. Appreciate tips (if any) on how to minimize the uploading time. I used hypercam and it's in avi (about 10 mins and 1 GB).
Just had a quick brunch .. Will perform some domestic functions now .. smile ..
Change frame rate to around 3fps, usually plenty for charts. I use Camtasia and can also output in mp4, and set overall compression to 50% which still produces a very good quality file but half the size. Not sure if you have similar option with Hypercam.
You're welcome to search me under "southinkucantrade". I felt quite stupid when recording them as I exposed the mistakes I made. Hopefully someone will learn from my donts and save some time/$$ in developing their trading business LOL! I have a list of at least 10 more items to share .. hopefully my future videos will get better .. haha ..