Good start to the week with a nice profitable trade.
Price pushed down through yty's LVA. Some econ news came out at 10:30am but I didn't think this had any effect as price was pulling back without a change in pace. I took a short after the first red candle but scratched it for 0 pts as German IFO was going to come out in a few minutes at 11am. After the news there was a push up but the 5 min candle closed around the middle indicating some sellers. After 2 red candles it looked to me that this was going to move down. I got in short at 3062 and took profits at 3051 for +11 points!!!
I could have taken a long around the bottom for 5-6 pts but decided I didn't was to risk giving back some profit. However there was some good clues going on. A spring on high volume looked like price could have stopped droping. The low was visited 2 more times with MACD dvg and POC 1 pts below adding support. So a long around 2 pts from bottom with a stop around 1 pt below low could have been done.
Being President's day and US closed, and nothing else coming out of Europe, I see little reason to put on any more trades today. Wish you a great week!
Over the weekend I looked at some of my trades and figured out I need to continue working on my patience but more importantly to better filter my trades. I sometimes get into some risky or lower probability situations and this needs to stop if I am to be consistantly profitable. So basically, I need to trade less and take trades that are more straightforward like today's.
Trades so far:
1/18: W:2 L:1 E:0 Won: +9 Lost: -2 Profit for day (in pts): +7
1/19: W:4 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
1/20: W:2 L:6 E:0 Won: +3 Lost: -28 Loss for day (in pts): -25
1/21: W:0 L:2 E:0 Won: 0 Lost: -8 Loss for day (in pts): -8
1/24: W:1 L:1 E:0 Won: +10 Lost: -6 Profit for day (in pts): +4
1/25: W:1 L:2 E:0 Won: +10 Lost: -8 Profit for day (in pts): +2
1/26: W:0 L:2 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
1/27: W:1 L:1 E:0 Won: +10 Lost: -4 Profit for day (in pts): +6
1/28: W:0 L:2 E:1 Won: 0 Lost: -6 Loss for day (in pts): -6
1/31: W:2 L:2 E:1 Won: +6 Lost: -9 Loss for day (in pts): -3
2/01: W:2 L:1 E:1 Won: +7 Lost: -4 Profit for day (in pts): +3
2/03: W:3 L:0 E:0 Won: +18 Lost: 0 Profit for day (in pts): +18
2/04: W:2 L:2 E:2 Won: +11 Lost: -3 Profit for day (in pts): +8
2/08: W:0 L:3 E:0 Won: 0 Lost: -11 Loss for day (in pts): -11
2/09: W:2 L:0 E:0 Won: +4 Lost: 0 Profit for day (in pts): +4
2/10: W:0 L:1 E:2 Won: 0 Lost: -2 Profit for day (in pts): -2
2/11: W:2 L:1 E:0 Won: +10 Lost: -3 Profit for day (in pts): +7
2/14: W:1 L:2 E:1 Won: +1 Lost: -7 Loss for day (in pts): -6
2/15: W:1 L:0 E:0 Won: +10 Lost: 0 Profit for day (in pts): +10
2/16: W:0 L:1 E:0 Won: 0 Lost: -2 Loss for day (in pts): -2
2/17: W:0 L:2 E:1 Won: 0 Lost: -3 Loss for day (in pts): -3
2/18: W:0 L:3 E:0 Won: 0 Lost: -9 Loss for day (in pts): -9
2/21: W:1 L:0 E:1 Won: +11 Lost: 0 Profit for day (in pts): +11
Price pushed down through yty's LVA. Some econ news came out at 10:30am but I didn't think this had any effect as price was pulling back without a change in pace. I took a short after the first red candle but scratched it for 0 pts as German IFO was going to come out in a few minutes at 11am. After the news there was a push up but the 5 min candle closed around the middle indicating some sellers. After 2 red candles it looked to me that this was going to move down. I got in short at 3062 and took profits at 3051 for +11 points!!!
I could have taken a long around the bottom for 5-6 pts but decided I didn't was to risk giving back some profit. However there was some good clues going on. A spring on high volume looked like price could have stopped droping. The low was visited 2 more times with MACD dvg and POC 1 pts below adding support. So a long around 2 pts from bottom with a stop around 1 pt below low could have been done.
Being President's day and US closed, and nothing else coming out of Europe, I see little reason to put on any more trades today. Wish you a great week!
Over the weekend I looked at some of my trades and figured out I need to continue working on my patience but more importantly to better filter my trades. I sometimes get into some risky or lower probability situations and this needs to stop if I am to be consistantly profitable. So basically, I need to trade less and take trades that are more straightforward like today's.
Trades so far:
1/18: W:2 L:1 E:0 Won: +9 Lost: -2 Profit for day (in pts): +7
1/19: W:4 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
1/20: W:2 L:6 E:0 Won: +3 Lost: -28 Loss for day (in pts): -25
1/21: W:0 L:2 E:0 Won: 0 Lost: -8 Loss for day (in pts): -8
1/24: W:1 L:1 E:0 Won: +10 Lost: -6 Profit for day (in pts): +4
1/25: W:1 L:2 E:0 Won: +10 Lost: -8 Profit for day (in pts): +2
1/26: W:0 L:2 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
1/27: W:1 L:1 E:0 Won: +10 Lost: -4 Profit for day (in pts): +6
1/28: W:0 L:2 E:1 Won: 0 Lost: -6 Loss for day (in pts): -6
1/31: W:2 L:2 E:1 Won: +6 Lost: -9 Loss for day (in pts): -3
2/01: W:2 L:1 E:1 Won: +7 Lost: -4 Profit for day (in pts): +3
2/03: W:3 L:0 E:0 Won: +18 Lost: 0 Profit for day (in pts): +18
2/04: W:2 L:2 E:2 Won: +11 Lost: -3 Profit for day (in pts): +8
2/08: W:0 L:3 E:0 Won: 0 Lost: -11 Loss for day (in pts): -11
2/09: W:2 L:0 E:0 Won: +4 Lost: 0 Profit for day (in pts): +4
2/10: W:0 L:1 E:2 Won: 0 Lost: -2 Profit for day (in pts): -2
2/11: W:2 L:1 E:0 Won: +10 Lost: -3 Profit for day (in pts): +7
2/14: W:1 L:2 E:1 Won: +1 Lost: -7 Loss for day (in pts): -6
2/15: W:1 L:0 E:0 Won: +10 Lost: 0 Profit for day (in pts): +10
2/16: W:0 L:1 E:0 Won: 0 Lost: -2 Loss for day (in pts): -2
2/17: W:0 L:2 E:1 Won: 0 Lost: -3 Loss for day (in pts): -3
2/18: W:0 L:3 E:0 Won: 0 Lost: -9 Loss for day (in pts): -9
2/21: W:1 L:0 E:1 Won: +11 Lost: 0 Profit for day (in pts): +11
