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I'm still trying to limit my trades to 1-3/day in order to burn into my brain exactly what I am looking for. On the negative side, I mistimed my first entry so started the day with -10 ticks. On the positive side, I didn't hesitate to get back in when I saw the opportunity again and managed to regain my previous loss with a bit extra. This is big for me because I usually only scalp 6-10 ticks at a time. Missed out on some huge pa but for now, am sticking with only 1-3 trades/day. +8 for the day.
I am less concerned with amount of pnl and more concerned with gaining consistency. The most important thing for me is recognizing when to stay out of the market because in the past, this has been the place where I went wrong. All those wick/tail candles chop pa on the 9 min is a perfect example. I still screwed up with my first trade but am slowly improving so am encouraged by this
This was my only trade March 3 around 9:29 pacific. Just a little scalp for 6 ticks. With the high volatility found it hard to find entries where risk was acceptable. Had 9 ticks of dd - not great risk/reward for the low target so not my best effort, sigh. Oh well, tomorrow another day
9 Min trend trade following prolonged sideways action +10
approx. 9:18 March 11 pacific time
Waited all morning for this to set up. Lots of sideways action all morning with no real direction. Had preset levels in mind for going short or going long depending on what transpired. When it did pop long, was ready and knew exactly the price I wanted in on. Went for 10 ticks instead of my usual 6 ha ha. I might start increasing my targets if pa warrants but I really prefer getting in and out quickly. I was filled in this case in under 30 sec with no dd so happy about that.
wheeww! Not a great day....traded way too much and did some really bad trades. Couldn't capture every trade in my snap but got most of them. In the end, ended up +7 on 8 trades.
Hopefully, back to more conservative trading on Mon. Have a great weekend. Stay safe.
6 trades today but in full transparency - all were in sim account - margins today too big for little ol' me.....tough to find setups that met my risk tolerance +33 ticks
