30th April Trading

Short Dow +5 - Entry was nearly perfect exit was sloppy I need to define the exit.  The trade went on to hit +20 should I only exit at +1

I didn't take a good trade in the dow today because I checked my correlation and the trade did not look good.  It turns out this was the correct move as the trade did not work correctly.

Correlation is the best aspect I have learnt about trading for a long time.

So far tradable patterns from system 3 - 2 winners 1 loser which should not have been taken due to risk on scenario.

I just placed a trade in gold from an hourly set up. CS uses a different increment count than my old broker so I incorrectly placed the trade.  How the trade played out was it went in my direction then came right back against me and stopped my to the pip +1 it then fell off a cliff and would have hit my profit target within minutes of hitting my stop!

-14 points

I knew my stop was in the wrong position as I calculated it incorrectly because of the different broker.  The other interesting thing is if I had placed the trade as soon as I saw it even though my stop still would have been incorrect it would have never moved against me by a pip! Hesitation

3rd April

Stupidly jumped in a trade using Jeff's logic but completely incorrectly.

Watching the A/U Dow and S&P will work if I had looked correctly A/U SFP'd long Dow hit one of my levels so did S&P but I went short

-15

Poor trading looking at what I know everything said go long but I went short

SFP's

Week commencing 2nd April.

2nd April

USD/CAD - Gap trade SFP +20

Dow -5

Total +15

Price moving into levels

Price moving into levels is so crucial the books hardly talk about it but it is imperative in every trade. 

I used to want to see price slowly creeping up to a level for psychological reasons and I assumed this meant weaker price action but this is completely wrong.