Well, I bought 5 contracts near the day´s low. Stochastics were near 0, MACD Hist were diminushing, MACD lines were about to cross, MA 5 was starting to reversal and pointing up. My target was 13260. I enter the position at 7:15 pm (GMT). I knew I´d have to let this position to go to the folloing day, as I´d have to pay for it (I trade CFD).
By 8:25 pm, price rose to 13217. At that point my profit was €190. However I didn´t close the position, as I expected the price to rise during the following day (today). At this time I move my stop to 13182, to cover spread. My idea was to give some space for the price to fluctuate. Well, 13217 would turn to be today´s high. During the night, the price fell and my stop was reached. From €190 I could get, I got €15. I didn´t lose money and that is key for me.
Trade 2: Light Crude June (€1 per contract)
Position opening: 102.57
Expected profit: €300
Loss in case of stop hit: €60
Spread: 6 cents (€18 in this case)
Light Crude fell almost 400 points yesterday. At the point I open the position, like the previous trade, Light Crude was near the day´s low (after that great price fell). There was a MACD divergency with price. MACD lines were rising and MACD hist also, keeping above 0. All MA lines went flat starting to point up. I open the position at 102.57 and put my target at 100 point higher. Once again, day trading was not possible, as I enter the position by 7:25 pm (GMT). The market rose to 102.72. My stop was 102.37, has I allowed the price to be a little lower than the day´s low (102.43). Well, the price fell until 98.36!
If I could give a rate to me trades, I would give a C- to Trade 1 and D to Trade 2. My strategy was not totally wrong. I just should have predicted the price would hit or be close the Fibonacci point and fell again (that´s what almost happen). As for trade 2, I confess I didn´t expected for the price to rise more than 400, again.
I day trade! I rarely do swing trade. In any other situation I would have taken those €190. However I pointed for that target price...
So, guys, opinions? How do you acess my trades? Sugestions?
Thanks a lot.
The following user says Thank You to Lord Sidious for this post:
Hi, you are posting in the wrong section of the forum. Please instead create a trading journal and you can post your thoughts on a regular basis to that thread, as you see fit.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
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