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An Apprentice's Journey


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An Apprentice's Journey

  #21 (permalink)
StressFreeTrader
Phoenix, AZ/USA
 
Posts: 26 since Aug 2016
Thanks Given: 197
Thanks Received: 31

Last week was not as fruitful as the week before but overall I am still positive.

What did I learn?
  • I need to be better about keeping my journal!
  • Going against the major trade bias is dangerous - I need to work on that!
  • Not to trade when I am too sleepy!
  • Let your trades play out - I closed 2 trades early the other day and both would have worked out

What did I do right?
  • Kept my losses pretty small
  • I am getting better about seeing the setups
  • I did better on my morning prep

What can I do to improve?
  • I really need to make some time to spend practicing on market replay!!!




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  #22 (permalink)
StressFreeTrader
Phoenix, AZ/USA
 
Posts: 26 since Aug 2016
Thanks Given: 197
Thanks Received: 31

Let's see I tried 2 trades early on today and neither of them followed thru and I ended up closing each out for about $30. Not worth the picture tonight. However, this evening I decided to trade and I missed the open but did manage to get into a trade. However, it was a real battle! Based on the open being so strong I thought the market would keep moving for a deeper retracement. I put in 3 orders because I wasn't real sure how price action might move. I wanted to put the first order where the 2nd one was at but was afraid that I might miss out on the trade altogether as I was reading a 2nd attempt short failure. Unfortunately, price dropped like a ton of bricks falling but in slow motion. Now, I had a real strong bear micro and hoping for a 1st attempt long before the 3rd order was filled. I got my first attempt long and tried to get +5 with the 2 contracts. Price went' +4 and never made +5. So I moved my target to +4 and it only went +3. I was too stubborn to exit the 2 contracts for a smaller gain or small loss. So I elected to watch the next few bars which for this time of day takes forever. Little did I know it would be around 6 hours. I finally closed out the position at +3 ticks just so I could go to bed. Now, I have a better idea why my dad is not a big fan of trading this time of day and taking trades against the major trend.

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  #23 (permalink)
StressFreeTrader
Phoenix, AZ/USA
 
Posts: 26 since Aug 2016
Thanks Given: 197
Thanks Received: 31


It's been a battle just to be able to trade much less do my journal entries. I have failed in that area! I know I need to become more consistent in keeping a trade journal and making the time to practice, but I am pleased that I am still advancing forward even with all the obstacles. Here is a picture summarizing my last 2 weeks:



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Last Updated on October 1, 2016


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