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Long, will take half off at resistance and allow rest potential for breakout.
stop adjusted to 88.1 below 250 tick swing low
stopped
indextrader7
Birmingham, AL
Posts: 1,065 since Apr 2012
PRIMO example of how I create a belief/expectation which causes my brain to only see information that support my belief. The 250 tick swings showed a failure to break resistance, and a weak pullback to retest (perfect short setup).
indextrader7
Birmingham, AL
Posts: 1,065 since Apr 2012
long pullback off support, looking for retest of highs.
Long this pullback as we test the most recent swing low. Will probably manage stop loss tighter than it is currently.
2:04 stopped at 92.2, no more patience for this trade not developing as planned.
indextrader7
Birmingham, AL
Posts: 1,065 since Apr 2012
Breakeven on the day. First day trading using ninjatrader, so other thoughts and issues got in my way. The orders on the chart were getting in my way at times, and I don't like how it doesn't connect the entries and exits for easy end of day trade review. Not to say I didn't make trading mistakes today. A few losers held on to for too long, a few impatient entries, etc. Here are two pics showing all the trades I made today. Too many trades. Frustrated.
indextrader7
Birmingham, AL
Posts: 1,065 since Apr 2012
Mistakes today:
1. Frequent mistake of mine, expecting a continuation way too quickly after a breakout begins to pull back. = impatient = fear of missing out
2. Chasing price around on smallest timeframe = impatient = fear of missing out
3. long an absolute falling knife, no confirmation, only getting NEAR a support level, not to it yet.
4. long after multiple failed attempts at resistance level? sheesh
5. long right at a resistance level again?
6. IF I TAKE A SCALP TRADE, IT NEEDS TO BE MANAGED AS SUCH WITH MUCH TIGHTER MANAGEMENT.
7. Too quick on the breakout pullback again.
8. Price breaks out, pulls back to level, and starts up again... so of course it makes sense to go short...