Day Trading Recap Nov 1

Welcome to Somaliland!  I have arrived at what is my final destination in Somalia where the internet is far superior than I ever imagined.  I’ve managed to find a friend of a friend that also has internet in his home, very fast internet to be exact.  When I arrived in the vastly misunderstood country territory I honestly didn’t think that I would be able to day trade.

Ethiopia has some of the worst internet that I have experienced while I have been day trading & traveling around the world (check out my WanderingTrader travel blog for more info).

The market has been moving nicely in the early morning so I have been able to extract double digits in the first half hour which is exceptional.  I am very happy with the results, especially since I am in a new country that is considered one of the most dangerous places in the world.  Tomorrow I will be leaving the capital of the territory with not one but two armed guards, should be an interesting experience.

These are the days that I live for, I only traded for roughly 30 minutes and was able to make just shy of 14 points.  I did include the valid trades that I may have taken with boxes after I finished trading.  Who honestly wants to stand and day trade from a ping pong table being held up by a freezer?

The market was nothing but down since Oct 31st, you can see that even in the premarket today that it was nothing but down.  Having preconceived notions about what the market will do before it officially opens is as bad as eating that McDonald’s Big Mac.  The point of that story is that we all still do it.  In order to change your mindset you have to eat something else that tastes good, take the first valid trade in other words.  Take a look at how all the trades were to the upside today.

Who said anything about a downtrend?

Click On Any Of The Charts To Maximize

There is something that I have to say that will surprise most people.  There are two trades that I took today that had nothing to do with skill, they were about luck.  An experienced day trader will tell you that it isn’t 100% about skill, there are some days that you get lucky while others days you don’t.  I was very lucky that I didn’t get stopped out on T2 & T5.  T5 more so than T2 because I could have easily placed my order a tick higher which would have stopped me out.

Sometimes the market moves in your favor

All of the trades take today are picture perfect trades besides T2.  They all fit the criteria for valid trades with the momentum being very strong to the upside with great pullbacks and runs as well.  Once I noticed the strength on T1 I tried to hold for my 5 point set target but I didn’t get filled.  I decided to exit with roughly 4 points.

I didn’t take the short at 10am EST because of news.  If I would have kept trading I could have added anywhere between 4-8 points to the bottom line.  The only reason I took T2 was because of the strength to the upside after T1. There was a strong retracement back to the area which did indicate weakness but there was more strength to the upside.  The one reason I day trade is to have my freedom.

Freedom is my definition of success

Why would I be locked up in a room all day when I could be out exploring the capital of a self declared independent state that hasn’t been recognized by the world?  One of the fascinating things about Somaliland is that there is a day trader that lives in the city that writes for the wall street journal.  I’ve already obtained his phone number and plan on meeting with him after I get back from the coast, if the two armed guards that are going to accompany me keep me safe of course.

Day Trading Results Nov 1

Day Tradings Results for Nov 1

• Total of 5 Trades
• 100% winners
• Could have made 4-8 points more