Here's what I did on monday- as usual, nothing but the momo :o) I'm not paying too much attention to the losers as I've reached the stage where I'm confident in my entries and that my losers are just losing trades within a profitable approach and less likely to be emotionally based (still happens though!) Instead, I know my real issue is how to not take off too much too soon...
(In all trades there is always a 30min or greater support/resistance which I'm playing off...)
CVX- Just one that didn't work out (short trade). Entry 78.12, Exit 78.45 (shown on the chart)
WMT- Nice entry, 57.14 with a stop under the whole number 56.94. Exited in two stages at the highlighted resistance around 57.40 (exits .36 and .39). Later re-entered on the pullback to the resistance-come-support to improve my gains but very much a fear-based exit...
CL- poor entry due to hesitation. Highlighted exit as I had experience repeated drawdowns within the trade and got tired of it just before good gains. Good reason with that overhead resistance but need to find a way to trail stops to allow those potential gains to be realized.
SPY x 2- first trade failed (indicated with the faint yellow and red entry and exit points respectivey) second trade entry I actually "missed" (i.e wasn't ready to take a second loss on the same trade idea) but caught a pullback, keeping my stop above highs(bold yellow and red entry and stop lines respectively) eventually turned into what Toni Hansen calls a "2T" getting close to my stop, before working out. Again, I tend to take off way too much way too soon. I ended up with 1.5 x my risk out of a potential 7 x risk based on my entry and stop...
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