Not a bad day. I'm glad that I was able to recover after my first trade being an undisciplined crap poop experimenting entry.
1st trade: Instead of waiting for a second entry on a strong signal bar, I entered anticipating the 2nd entry short.
The day started off in a downtrend. It bounced off the lower channel and worked its way to the upper line as well as the EMA. After the first entry, I decided I would place my entry near the previous swing high, so that it would give me enough room (and hopefully a better entry). Bad idea. The price ended up breaking the channel and went into a trading range. I did want to exit early after I saw 4 overlapping bars, but decided that because it is sim, I will let the trade fly. -6 ticks
2nd trade: I saw after a double top and previous resistance earlier in the morning that this would be strong resistance. After I drew in my upper line, I waited to fade the next time it reached this level. I got filled perfectly at the top and went down quickly for a +6 tick
3rd trade: Repeat of the second trade except off the lower support. I had an order sitting out, but this time instead of right at the support, I had it 2 ticks under, only because there was previous price action at 10:50ish that was lower than the line I drew. Got filled, worked against me 2 ticks but didn't take anymore heat than that. +6 ticks
So that was it for Friday. Like I've previously mentioned, I only trade from 10:30AM - 12:30PM EST.
So didn't hit my target for the day, but I'll day +6 ticks.
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Have not been sim trading as much. Spent the last week watching Al Brooks video lessons.
Abundance of knowledge but the only problem is I can only listen to about 30-40 minutes of his voice before I wander off to sleep. No matter how much coffee I have or what time of day it is, right at about 35 minutes I start to doze off.
Also, I do not have the license yet for NT so I have to keep requesting demo accounts. And since I get lazy I revert back to just market replay. I guess I should fork over the minimum deposit soon to avoid the hassle every 2 weeks.
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