NQ Paper Trade Journal
- Thread starter A2x2
- Start date
No.. will play it depending on what comes in. If it's a strong deviation from the consensus it provides a good direction of where it will head from the market open. If it comes in around consensus then business as usual.
But then again.. what do I know.. I haven't been doing too well ever since the inception of this paper trade journal..
2016-10-06 Summary
Daily P&L: -8.50 (2 trades, 2 losers)
Trade Summary
Trade 1: Market was shifting down after a large rally upwards. [-3.25]
Trade 2: Flipped long close to top of range.. [-5.25]
Should have been more patient and waited to see if the afternoon session would trend or would it range..
Things to (continue to) focus on:
-More patience on the trade set up (wait longer until I take the 1st trade, for the range and chart patterns to develop)
-Need to mentally visualize potential chart formations both to the upside and downside (anything can happen), and strategize my game plan
-Protect profits (do not hesitate to exit and take profits at current levels when market is exhibiting signs of slowing down / utilize time stop)
-Okay to miss entry and not make a single trade for the day
-Always keep the overall trend in mind (will it trend or will it range?)
Daily P&L: -8.50 (2 trades, 2 losers)
Trade Summary
Trade 1: Market was shifting down after a large rally upwards. [-3.25]
Trade 2: Flipped long close to top of range.. [-5.25]
Should have been more patient and waited to see if the afternoon session would trend or would it range..
Things to (continue to) focus on:
-More patience on the trade set up (wait longer until I take the 1st trade, for the range and chart patterns to develop)
-Need to mentally visualize potential chart formations both to the upside and downside (anything can happen), and strategize my game plan
-Protect profits (do not hesitate to exit and take profits at current levels when market is exhibiting signs of slowing down / utilize time stop)
-Okay to miss entry and not make a single trade for the day
-Always keep the overall trend in mind (will it trend or will it range?)