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Only 3 trades today. First one was a loss of 8 ticks and then I had 2 small winners.
Non of them got to my profit target.
My first trade could be BE easy, I wanted to give it little bit more room to work out. On my other two trades I decided that small win is better than small loss and trailed my stop after bars closed in my direction.
For my targets I used fib extensions, but I guess I got them from wrong pivots. Would I use them from closer pivots I would get little bit over 1 point more, but I was waiting for a bigger run and it didn't happen withing my trades.
Three trades again.
First trade took me out by a tick and I was pretty upset about that. I could run it much longer.
Second trade I got in too early and missed the next entry because I was too slow. Second entry could give me over 4 points. But that didn't happen.
Third entry was really nice and clean. I had my target originally for two points couple ticks above yesterday's close, but it was moving down nicely and I moved my target to 100% extension and stop to BE+1 to give it some room. It did hit my target, but after it took me out.
The only thing I'm happy about that I'm still closed in green. Not as much as I wanted but it's better then loss.
I could easily make over two points today. I think I just got greedy on my last trade.
Yes, it took me out as well a bit quickly or I would have probably had a nice 8 point run. My bad habit hurt me pretty badly today! I have to be more like Roger!
I had bad feeling about trading today because of Bernanke speaking.
I was hoping to be done before that. I saw a couple setups, I was slow and not so sure about them.
Then I used my 3 trades really quick.
Market was moving really fast with large bars. On my second trade I got 3 ticks higher and my stop was at BE+1, but I got out with -1. My last trade was really nice, but I got some sideways before it broke up and ran for over 7 points to close of yesterday closing the gap. So over all -1 point. I'm ok with it.
Even if I have all 3 loosing trades with full losses it's gonna be not more then -2.5-3 points. I think I can deal with that.
The way I'm thinking that my average day should be around 2-2.5 points and my daily loss should be -2.5 points. I think that I should not have more than one loosing day a week. That should give me 3 day's net profit a week 6-7.5 points.
I hope it's gonna work that way.
I saw a couple setups earlier but wasn't ready to pull trigger.
First trade with full stop of 9 ticks. I thought to get out with BE+1 when I saw that price stall and didn't move any higher. Then I thought to pull my stop one tick below of that stall, but decided to give it some room to work out.
After news I was waiting for any move because market was really quiet. Then after 3 points move I got short on the pull back and then retried again on the complex pull back. Last trade could be a couple ticks positive, but again wanted to give it some room.
I got MACDBBs back on my chart.
I needed something for more confidence.
Today only one trade. I just don't want to risk that money and get in another trade.
I wanted to get in at double bottom at 9:31 but I was too slow and didn't get filled. To be honest I think I wouldn't hold it all the way up, but I could get about 1.5 point at least.
Today I used my trades withing first 15 mins. I wanted to be done before news and kinda rushed it. My first trade was really nice, but it took me out with one tick before it hit my target for almost 3 points. Second trade was on weak pull back and third one at complex pull back. Last trade could give me some profit, but it tool me out with one tick again.
To be honest I thought that we are gonna close gap before news (red line). That was the main reason for my shorts. But it didn't happened. So this is my second loss for the week. Not so great so far.
Yes, I took that nice long after the open, then shorted, but got bounced about 3 times. These new charts are hard for me as I find myself never looking at the 144...