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I am opening my Journal today. Very excited! The idea is to trade CFDs on the Dow Jones and S&P 500 indices. As I become proficient, I want to trade eminis. I want to take 1 or maximum 2 trades a day. I will also swing trade US equities, trading them once or twice a week.
My plan is to draw some tecnhnicals and lines in the night before and do a plan for the next day, wake up early, read from different sources, take a view of the market, starting from big time frames. As the market opens, look at narrower and narrower time frames, hear my intuition and my technicals and enter a trade after 8:45 am, with a clear stop loss level.
Try to let it run. I can only move narrow my stop, never give it more space, but only narrow it.
With regards to swing trading, I follow and am part of the Trade on the Fly community, so I will follow Michele's swing trades and follow her coaching.
All set, got my market data, got my graphs all drawn. Day starts, market coiling up, lower and lower volatility after open. Apparently all had happened before the open.
Waiting, waiting. Finally the market starts to break down slowly and undecidedly. I try to short but my order does not get hit.The move is not quite strong enough, I decide to pull my order out.
I hope next time there will be more action. Patience, waiting. Boredom is probably a good sign.
After a more than a year's pause, I'm back. I hope the market rewards persistance, because I plan to develop it. I want to be a consistent learner, a student of the market. Love it and learn it every day, as a microcosm of our humanity, as an engine of wealth, or rather an organism that pumps and distributes wealth through our global society. I want to really see myself as part of something bigger where I learn daily, contribute with my smallness and strive for greatness.
