We had 7 trades on the Mini-Dow simulator early in the session.
Yesterday, there were 30 trades and while it turned out slightly green, it was long, tiring and I broke some rules in the process. When the approach being used is to trade off of the band extremes and the price is trending it becomes easy to take less than strong setups and to want to attempt to get on the trend.
For half of a session 6 -10 trades should be available, considering this approach and that every day anything can happen. This was about about an hour of trading. Shortly after I left the screen there were 2 pretty strong setups.
First trade was stopped out quickly, and we got in on the next one which was a better setup and worked. It should be noted that I moved the Take Profit up and we cannot do this indiscriminately
This was the best setup taken. We need to be on the lookout for these and be ready to take them
The risk of going short here is that that the market was moving up fast with strong bullish bars. We’ve had some decent trades when there is a triple “tweezer” type of formation
We need to be in these trades quicker.
These were certainly not prime setups, but they worked.
lately the challenge for my trading has been trading the GBP. Evaluating and continuing to improve. Here is the GBY/JPY and then the Dow. Trading very similarly. I managed to get myself on the wrong side of a couple of Forex trades.