Ok, we're going to start this again. Changed brokers, platforms, and even strategy. This journal will be how a journal should be. Some immediate goals for this journal are:
Discipline: Stick to the plan, do not exit prematurely, do not enter impulsively
Consistency: stick with the same strategy until I am sure I can trade it properly
My strategy is as follows:
Setup: As long as the 25SMA is pointing up I can enter long. As long as the 25SMA is pointing down I can enter short. If the 25SMA is generally sideways then there should be no entry.
Entry: 8EMA crossover to the 25SMA or enter at retracement to 8EMA in a defined trend. Do not enter under any other circumstances! If there is any doubt whatsoever as to the trend, then do not enter!
Exit: 8EMA crossover to the 25SMA or if my cumulative RSI indicator shows a divergence to price. If my momentum indicator shows an impending weakness in the trend then be prepared to exit but it is not a reason to exit. Watch for divergence AND weakness of trend.
Scale IN: I will use a scale in method. The first entry will be @ 1/2 share total. The second entry will be after there is additional confirmation of a trend and there is a pullback to the 8EMA. Exit will be 100% of position