29th Oct – Trading day not finished but I am!
Hi all,
Hope you all had a good weekend. I am exhausted and the market isn’t really doing too much right now. I shouldn’t have really traded as the mindset wasn’t correct today but I did. I made two losing trades at -10 in total.
The first trade was a short at 154650.. this is where the 5 day MA was. Usually, one should only really go in if you see confirmation of another support resistance line as a move off a MA is rather quite risky.
Second trade was a short off 154800.. I got in as the market had already fallen from this value, 154650. I had a stop at 154825 and this got hit for a -7. I really should have had a stop a little higher as there was a previous high here at this level.. perhaps my stop should have been a price or two higher. Anyway, as I watch the market, I would have got it wrong and that loss would have been higher.
In hindsight here, the best trade would have a long from 154400 with a target around 154775.
(click to enlarge)
