Busy day
Took 5 trades today and none were losers but none were big winners either. I found things to be a bit choppy today and with the exit method I'm using now it really took me out of nice winners. Traded SLB, AG, FRO, STO and MT. The best of these trades were MT and FRO (although I jumped ship with FRO before it made the move down... hate when that happens).
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7 comments:
RGLD 38.2% retrace on Trader X fibbo. target LOD. threw a intraday 3T before it moved.
i have trouble when my main port is getting drubbed. i may let a buddy manage it and just retain the day trading.
intersing that MT came right back to the ORL.
Good stuff, 5 trades and no losers. I get the feeling from reading your posts that you are close to a big big day.
And I must admit I'm hoping for that as well. Recently it has mostly been : "get to 1R, take partial or not, then stopped at breakeven"...day after day. It will end sometime though and as long as we keep accumulating the small winners I think we are trading well.
On FRO > The 12:30 candle, did you have any thoughts on that as a trigger ?
Thanks.
i think i read your MT chart wrong - sorry
traderam: thanks... and I do get the feeling like one of these days will be very worthwhile. Like you, most of my trades have gotten to the 1R point and then came back to stop me out. Just choppy. I know this will not continue forever and just need to continue spotting the good entries. I missed entries on GLD and CNW (actually had an order in for this but price dropped so quickly). All it takes is one good day.
On the bright side... some of those 1R/breakeven trades could've been full 1R losses so I'm satisfied in my approach so far.
traderam: FRO 12:30 was a very good entry as well. I passed because it didn't set up as I like it on the 3-min chart... just me.
qqqball: not seeing the entry for RGLD.
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