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The week started off slow for me. It was a holiday where I'm located. I attempted an entry in Nikkei in the morning, but didn't get a fill. By the afternoon I felt my head wasn't right and things weren't clicking so I backed off. I watched my position in Platinum bounce back to nearly positive.
Only one trade for the day:
2024.02.12 08:57:49 ENQH24 sell in 1 18043.75 0.00 35 098.92
2024.02.12 09:03:23 ENQH24 sell in 1 18048.75 0.00 35 098.92
2024.02.12 09:10:20 ENQH24 sell in 1 18056.75 0.00 35 098.92
2024.02.12 10:05:38 ENQH24 buy out 3 18047.25 150.00 35 248.92
Had a big divot on Tuesday following the small gains on Monday. Trading around big data days always increases risk and I'm better off sitting on my hands. I didn't do that on Tuesday. Fortunately I was able to claw back some gains towards the end of the week after taking Wednesday off to reflect on my stupidity.
I closed one leg of the three contracts I had long on PL and then bought back in on the post CPI dip. I'll post charts for the PL trade once I close it completely.
That's exactly what I was doing. There was a point where the trade was green but I was preoccupied with the DAX trade that was ongoing. Should have closed them both out when I closed the DAX trade. Live and learn.
I am astonished - you opened the account with $10,000 last October, and after 4 months, including the holidays period, you had nearly $28,000, and you are adding to losers? Averaging down?
I do not! I am a complete beginner and have never yet even traded a live account at all.
I am trying to learn by asking questions and meant literally what I said, that I wanted to be sure I did not misunderstand. Apologies if I came across a different way, it is also not my first language, which does not always help.
My apologies for my curt reply. You did not misunderstand. I will often times try to "buy" my way out of a losing position and turn it to break even or positive. It is risky and leads to the occasional large loss like I experienced last week with NQ. I don't trade with fixed stop levels. It's more of a gut feeling that comes from watching the tape for a long time.
I entered this week looking to claw my way out of the hole I dug last week, which I was able to do. Lots of small wins this week which helps build my confidence. I still have an open position in Platinum, three contracts long. This position has an unrealized gain. I expect to close the position this week.
