I'm starting this journal to handle the biggest challenge I face everyday in trading: me.
I'm a newbie when it comes to trading profitably but have gained lot of "experience" blowing several accounts. I wish I could say my mistakes are innovative or I'm unique in the way I make them but neither is true. Knowing myself, I am counting on this journaling process to reign in my weaknesses and allow my strengths to develop and get to work.
I am a student of Al Brooks and trade only based on Price Action. At the moment, I trade only ES.
My current goal is to secure a funded account from TST. I have made several unsuccessful attempts so far.
Today is the first day after a fresh reset.
2 trades with net P&L +$276.40
Trade 1: Second entry short at the top of day's opening range (identified by red horizontal lines) after second unsuccessful breakout of the trend from yesterday (denoted by yellow trend line). Stop would have been @4.25 points away, a tick above previous swing high. Consequently, chose a reward of 4.25 points at 2629, which got hit to the tick before a pullback.
Trade 2: Second entry buy after the breakout of a resistance level denoted by the blue line. Didn't stay in the trade for a few reasons: 1. Entered on the breakout bar, which can be risky, especially at that time when wild reversals are possible 2. It was a 2-lot entry; so wanted to get out after a quick scalp.
Missed a few entries as I was busy at work. Would have taken the second entry buy at the break out of bar 7's high, which happens to be at the low of the trading range.