Today we had some early losses to manage and rebound from. More than once today there was a scalpers profit available that was erased by indecision, distraction, and delay in exiting.
I traded heavier than I wanted to, with a much bigger swing than I wanted. The key is to get good at reducing losses and getting to profit on those sessions. In this case, I wouldn’t give myself a great grade on my trading as a whole because I wasn’t quick enough or got distracted. With some better planning this could have been a much more profitable session. We should note that technically the performance is substantially better than it looks as the costs are on the high end.
Still, it was a profitable session. However, the chart below shows a downtrend and the DOW has just moved lower – like 200 points lower off of a trendline on the hourly chart.