Hi guys. Today I decided to test the market and trade for a few hours. I wanted to see how many points I could extract from the market.
As you can see, I made a few mistakes but every day is a learning experience. I made a total of 5 points today.
Editors Note: While we all look for points in an overall sense do what to point out that after commissions Deuce would have made $1915 today assuming he was trading 10 contracts. He has been doing a great job sharing all of his trades with us in our market recaps section.
In the early morning there were great opportunities and I wanted to highlight my fourth trade that didn’t work out. In class, I saw some of the other student’s charts where they placed their order behind the mid band expecting a deeper retracement.
Sometimes we are so eager to get into trades that we forget to look at whats expected from the market movement. On my second chart, you can see that the market consolidated for about 2 hours until it went down.
I actually like it when the market is moving this way because it allows me to take small gains and small losses. Overall a pretty good day. Next step is to add some pro trades to my arsenal and minimize my mistakes.
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