18th April – A long trading day

I got my Friday off and therefore had more time to trade. I made a series of trades as you can see from the chart.

First trade was a short at what I thought to be the forming of a triple top. The price action had indeed moved down a tad and I had caught it a bit late.. the market had reversed and went up to hit my stop for -8! Ouch!

My second trade was a stop and reverse. As the failed top patterned emerged, I went long above the break and caused +7 prices…

Third trade was a short at 139450 as the price action moved below the previous intraday swing low. I should have watched the 5 day MA line which was below and acted as support. The 5 and 15 minute stochastics however at this stage did look good for a short. Unfortunately for me however, I got stopped for -10.

Fourth trade was a short below 139475. Now the price action had moved below the MA line in the 5 minute chart. 5 and 15 minute stochastics were indeed both heading lower. I targetted a target of 139250 however which is where I have the MA lines in the 15 minutes. This proved to be good as it hit this and went up.. I got +9 for this move.

Total for the day was -2!

Still not heard a squeak from the trading academy despite my emails… I get the feeling that they are ignoring me. I may have to write to them via snailmail to make it a bit more formal.. let’s see!


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Category: money