Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Doing my best to be positive, but I am sure I will have a tailspin come. You will do better very soon as well, and I will be wondering how you saw it on the day I didn't etc.. I think that is why my wife and I would be a great trading team. When I do bad she does Great! haha...
Most days we do just OK, so if the bads offset the goods and the OK's are left to build the account we will do well. haha...
I have no doubts that you will be able to get back on track. Just like any hitters slump in baseball. Just takes time to make that switch and you will be rockin!
It was great day today and I think it was very easy to trade.
But I was too early again. Poor management on a second trade. Just look at MFE Hahaha.... It ran down for 5 points and took me out with 2 ticks.
Reason for the first and second trade was a deep pull back from 23% and we are in a deep at 4181 with divergence. First one was little early. When I managed second trade my original target was at 38%, but I wanted to manage it according to larger time frames. 610 did tell me to get out that's why I was holding it longer. I knew that next target is 50%, but it took me out at the deep from 38%. I tried another short, but early again.
So I used my three trades and I wanted to wait for new to get of my way and I was watching deep from the 50%. I knew that I got in too early again. Just couldn't help it. I didn't want to break my rule and I just marked my trade. The first thought was that we at least retest 50% (over 4 points) next target was 62% (7+ points), but we got all the way to 76%.
I know that I didn't make any money today, but I very happy that I called all the pivots. I mean areas in general. That is the most important for me right now.
No emotions. I only want the best for everyone including myself.
It was a very challenging day for me to trade which is fine, but I was very impressed with how you stuck with the direction regardless. Very good job. Something I need to learn.
I had only 2 trades today. I didn't take the third one just because I didn't feel like trading because I'm tired after an hour of trading.
Poor management again on both trades. That's fine for now. Spot an area for entry and direction of the market are the most important thing for now.
My first trade moved for 3.4 points in my direction and took me out with -6 ticks. I thought we are gonna get deep pull back before moving lower and also I had my fibs little bit off at 144. That pull back was deeper than I thought.
Second trade I got out too early because I thought that we are gonna get some retracement and I wasn't sure how high that's gonna go. My target was at 700.5 for retest of 62% for 7.4 points and second target was 698.00 which is 2 ticks above of 76% for another few more points.
I'm pretty happy with my trading even if had poor management.
Here are my trades and summary:
Now I have to stay this way for at least a couple months so it can become my new habit. Do not look anywhere else, do not try anything else. Just lock on the rail and move forward. Let's see if I can do this.
Used all my 4 trades today. First and third trade were early entries again. Red line on the chart is 76% on 4181 And I knew that we are gonna get to that level before start moving down. I took the first trade too early because I thought we are not gonna make it to that level. We touched 76% during the news and started move down.
My second entry was at the deep from the most recent pull back, but we moved higher to the deep from the today's high. My third trade was little bit below of 76% and it too me out and we got quick push to 89% and started to fall dawn. I tried to get short at the red arrow, but didn't get fill and then got in on the weak pull back. I wasn't so sure about that entry, but it worked. Any strong pull back up could easily take me out, but it worked. My target was 76%. All large MACDs told me that we are going lower, but I thought that it's enough for me and we can get pretty good pull back from 76% according to smaller time frames. I didn't want to take a chance to be stopped out on that pull back and took my profit.
My entries are still not so great, but I'm glad that I can stay with general market direction. This way I can get trades with much more potential than jumping on pull backs. I mean that can work very well also, but for a scalper. Scalping means more trades to me and I want to get rid of that habit. That means that I have to stay this way and work on my entries and exits.
This is the end of the week and here is a summary:
After all fees it would be $530 for a week. Can I stay this way for a month or two? That's a good question!