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Reviewed my first trade from today. I actually missed a upper trend line. Technically the trade was still valid however I may have not taken the trade because the stop entry was to far above the resistance line and the trend line changed the dynamic of the trade.
CL is pretty much stuck. Moved back down into the middle of the weekly range overnight. If we go below 9560 then CL may start trending lower. Right now the bias is down based on the overnight action. The plan for the open is to watch and see if something presents itself.
Goals for the day
My goals for today:Trade my plan. Dont force trades. Wait for the trade to come to me. Do not use the flatten button. Instead manage the trade through my targets and stops. Have patience and let the trade play out.
Tough trade to start the day. I thought it might breakout above the trend line but as of right now it didnt make it. Original target was 10 ticks. Came within 2 ticks and pulled back. Move target to 5 ticks and was hit on second push up. +5 ticks on trade.
This trade was mentioned in the previous post. Waited since the open for this trade to develop. Solid trade. Original target was 20 ticks. Moved it back to 16 on the first pullback. +16 ticks.
+21 ticks today. Recovered my losses over the past 3 days. I followed my plan and let the trades come to me. I am starting to see the more profitable trades on the chart. I passed up valid trades because they were in traffic. Instead I am starting to look for trades which had room to move. Less chance of reversal. Worst thing that happened today is I talked myself out of trade this afternoon which would have added 10 more ticks to my daily total.
Nice going Dragon, You have progressed really fast and I am very impressed with your trading. Well done man. Looking forward to working with you and Xelaar in the live trading room one of these days. You guys are fantastic!
As Xelaar said above, just keep it steady, slow and steady, less is more. Make it happen.