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Funny how the next trade is always the one that works but I’m always passing on it. Three trades today, one quick win that got me feeling strong, then two successive losses to put me back in my place. There were other trades, but my fear of the blowout day (I’ve had too many to recount) had me retreating into my shell.
Experimented with documenting the day’s blueprint before the open, which, though it took time to post, helped a bit with conviction, at least on the first trade. In general, I saw the market’s intent pretty well, but faltered on the timing of a couple trades, and then hesitated on some others that panned out nicely.
About those losses, the first showed some pretty good selling so I was surprised by the subsequent strength. At least I got out at only -1/2R.
The second loss should not have been taken as it was trading short right back into support. I was trying a set up similar to the way @Kube777 trades, but it wasn’t right as I look back on it now.
Oh well, not much harm done. Learn and move forward.
Monthly Recap April 2016
Live Trades: 0
Month’s P/L: 0
Starting balance for the Month: $2840.17
Withdrawals for the month: $0
Deposits for the month: $0
Ending balance for the month: $2840.17
Beginning account balance from first live trade on 3/10/15: $3000.00
Total Withdrawals: $0
Total Deposits: $0
Total Gains/losses from 3/10/15: -$159.83
No activity on the live account. All trading switched to TST combines. Blew out the first combine in early April and currently working on the second.
Continuing to work on market context combined with order flow “events” to time entry. Generally feeling pretty good about the direction I am taking and eagerly anticipating a “breakout” in my trading performance soon.
Opening range established. A little tricky in here. Lot's of "stuff" to go through on both sides.
7:22 update- slow methodical move down. Not my kind of day at this point. Not comfortable with any set up so far.
8:06 update- in real time these days are hard to trade for me. Difficult to determine good entry points without wide stops. In hindsight it is frustrating to see such movement without taking advantage of it. This is where a trader has to have a general philosophy about the day: "I'm going short and staying short until fill-in-the-blank happens".
Day is not over. Could have a trade-able bounce soon.