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TopStep Trader called and I am good to go. I had one more setup while on the phone with them. I am wondering if this move will finally reach the measured moved target (If I have it right on my charts).
No - It just means that rather than letting price go to whatever target I am aiming for, I am more aggressive in closing the trade and taking smaller profits - If price begins to go against me then I am quick to close the trade. A little profit is better than adding to an already negative balance. In essence, I just chip away at the negative balance until I am positive again. Plus 5 or plus 6 with 3 contracts is $150 to $180 dollars towards that goal. Hope that helps!
Decided to go against my trade bias on a failed 2nd entry long. It went within 1 tick of reaching my target and turned. I should have tightened up my stop. I wasn't quick enough to enter long and missed the proper trade setup.
Got aggressive. Candle showed failure with a long wick and only a few ticks before candle completion. So I entered short. You know the rest. The candle closed up for a strong entry signal stopping me out. This is my 2nd trade against bias that has failed and my 2nd long entry missed because I took the foolish counter-trend trade.
Once again I thought for sure I knew what the market was going to do and so I traded that instead of what the chart was screaming at me. I kept looking for a completion of that measured move long and it never happened. So when price broke out of that range downward I kept thinking seller trap. A new bearish channel developed and I should have been trading short. Instead, I ignored what the chart was saying and took the long entries. End result $980 down plus commissions so probably about $1,100 down altogether. I will post my report later.
Tomorrow, a new day! However, until I am back in the grove again. I will only be trading 2 contracts instead of 3. Have a great day all!
Sorry, I didn't get this posted last night and didn't show any trades today. I was focused on ironing out my trading! I tried some trades last night but they didn't work out so I was in the hole when I woke up this morning. However, I did recover most of what I lost yesterday. My plan for the next few days is to take screen shots and then post them later in morning or afternoon and as always post my trade report in the evening. I had to spend some time reviewing materials and talk with my teacher/coach to figure out how I got so messed up. He was a great help and I think I am back on track again. However, I intend to be a little more conservative. I don't want any more days like yesterday. Here is the report:
I just got home and found out how lucky I was today. I was only trading 1 and 2 contracts and I struggled a little but I reached my goal and thought I was done. I continued trading thinking that I was in my sim account. It turns out I wasn't! Still ended up positive overall but not where I wanted to be. It definitely looks like I over traded. I am not sure how I made such a big mistake. I have done this before but usually I am in my sim account thinking that I am trading in my live account. As a result, I have I made verifying my account a part of my morning routine. I am going to have to be much more careful in the future. Here is the report for today:
However, until I am back in the grove again. I will only be trading 2 