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Well, I am back to my old habits it seems. 16 trades today, but I don't feel too poorly about them. It seemed long to me after I missed the pivot, but I figured a retrace would be enough so I tried a few times, bounced. Then I decided to go long, bounced. Then short again and I got a great pivot!
I did not let the indicators tell me when I most likely would need to exit. Instead, my bad habits of getting out too soon jumped in my way. I could have easily been up a couple points today. That first long was incredible... I don't recall ever seeing a 20 point move up like that or at least my memory is suffering.
All-n-all, I am only disgusted in my ability to manage the trades. I caught some small one's, but they could have been big one's had I been technical.
This weekend I will need to get my head on straight. Drawdown was quite high today.
Have you been watching Horst on Youtube and his new ways? I used them yesterday in sim and got 6 points. Today the DOW was down over 100 points at opening. That and it being Friday... stay out!
Yes, I watch Horst often on the ES. He is doing quite good, but a little scary the other day for me. Kind of like the trading I did yesterday, but not nearly as bad as I was...
he is a great trader and enjoy watching his vids..
Excited to trade because...
I will make money today
I will dance well with the market
I will find peace with the market
Not Excited to trade because...
I will be 'risking' capital
I will be tired and won't trade well
I will be risking being wrong
I am not supposed to be excited. Boring is good.
Well, considering I hit the pivot at the top by 1 tick, then I think my points could be in the +10+ category...
Well, you never know. I thought we were headed up further because of the strong premarket price action trend and boy was I wrong.....
If I stuck with my indicators, then I would be much more consistent and profitable, but instead I am 'inferring' what the market is telling me as far as strength etc..
Ok, wow, I feel a bit worn out. I thought for sure some of my trades would work out only to be knocked out by a tick for a runner. Big bars today and I was too slow or hesitant to take advantage.
I liked short and shorts should be my #1 choice considering market conditions, but the MACD's were telling me long after a while, but I couldn't make up my mind.
I finally picked the right direction and it was long nicely, but the retraces kept knocking me out and then going. I did pretty good considering I was so far down for the day.