[INTRA-DAY ACTION]
Going to step away from the computer for the day, I haven't made any right calls this morning, all the shorts go up, and the longs go down. It's going to be the kind of day where I'm just not going to win, and I can feel myself losing my cool. Prob going to mess around with the playstation instead.
I may or may not trade for the rest of the week. I'm not sure how I'm down today, as looking at the watchlist every single triggered trade thus far would have been a winner. Also, about 90% of the trades I've made would have been winners had I held longer.
I'm barely up on the week at the moment, and if I had held my TNI and SCHE I would be up over £5000 this week. I have also discovered that I really need 2 monitors and prorealtime live to make it all work. It's all fair and good having a watchlist, but if you don't have good info in front of you, or an alert, then you can't act on the signals half the time.
Swing trading is nearly impossible if you have your broker platform on and nothing else to do. Yesterday I made an insane amount of trades, and today I have already made and closed 4 deals. I have one open, a short on CHTR, which has already reversed and is gagging to close me out. If I close and reverse now, then it will drop for sure. It's unfortunate that my broker doesn't allow me to go long and short at the same time to hedge bets.
SGRO has just failed an intra day double bottom just below our key trigger price. The way my luck has panned out, I should really avoid a short and go long on this as it will no doubt reverse instantly.
I'm very pessimistic this morning..
Update 17:00
I decided against giving up when the going got tough today, and I laid down some TA on a few stocks. I halved my losses from earlier in the day, all while playing the playstation. I picked a few stocks, did some analysys on 5 minute charts and then went long and short on 2. I regained my MKS loss and have reduced the CHTR loss by a third.
I am currently upset about MKS, as my original entry was short at 254.5 and it closed at 238.75. This is annoying, but also, I regained the money by not watching the charts when I was in, and set up audio alerts at key prices.
Anyway, that aside, have a look at these horrible horrible entries earlier in the day:
Very very bad trading on my part.
Tomorrow I will try and keep some discipline about my trading, and watch for retracements. I'm not sure how much longevity Pro Evo Soccer will offer me for a whole day, but I will not win if I am constantly watching my trades. Micro-management ruins profits.
Update 20:00
Confidence is king. I decided to trade some US equities for an hour tonight, just to test the water. I traded US Steel (X) and General Motors (GM). I have now cut down my initial losses today to a quart of what they were at peak. I'm really happy with this outcome.
Both were good technical setups on the back of some bad news and a killing for the indices stateside. Very pleased with my entries, and with my exits too. Both had quick double bottoms, and I exited on those. I entered X on a double top combined with MA hit at peak, and sold half an hour later for US$5 per share profit.
I might re-enter, as I believe the GM candle was an inside day - and X has just made daily (thus 52 week) lows. GM is now making daily lows as I glance back, but money in the bank eh?
I may or may not trade for the rest of the week. I'm not sure how I'm down today, as looking at the watchlist every single triggered trade thus far would have been a winner. Also, about 90% of the trades I've made would have been winners had I held longer.
I'm barely up on the week at the moment, and if I had held my TNI and SCHE I would be up over £5000 this week. I have also discovered that I really need 2 monitors and prorealtime live to make it all work. It's all fair and good having a watchlist, but if you don't have good info in front of you, or an alert, then you can't act on the signals half the time.
Swing trading is nearly impossible if you have your broker platform on and nothing else to do. Yesterday I made an insane amount of trades, and today I have already made and closed 4 deals. I have one open, a short on CHTR, which has already reversed and is gagging to close me out. If I close and reverse now, then it will drop for sure. It's unfortunate that my broker doesn't allow me to go long and short at the same time to hedge bets.
SGRO has just failed an intra day double bottom just below our key trigger price. The way my luck has panned out, I should really avoid a short and go long on this as it will no doubt reverse instantly.
I'm very pessimistic this morning..
Update 17:00
I decided against giving up when the going got tough today, and I laid down some TA on a few stocks. I halved my losses from earlier in the day, all while playing the playstation. I picked a few stocks, did some analysys on 5 minute charts and then went long and short on 2. I regained my MKS loss and have reduced the CHTR loss by a third.
I am currently upset about MKS, as my original entry was short at 254.5 and it closed at 238.75. This is annoying, but also, I regained the money by not watching the charts when I was in, and set up audio alerts at key prices.
Anyway, that aside, have a look at these horrible horrible entries earlier in the day:
Very very bad trading on my part.Tomorrow I will try and keep some discipline about my trading, and watch for retracements. I'm not sure how much longevity Pro Evo Soccer will offer me for a whole day, but I will not win if I am constantly watching my trades. Micro-management ruins profits.
Update 20:00
Confidence is king. I decided to trade some US equities for an hour tonight, just to test the water. I traded US Steel (X) and General Motors (GM). I have now cut down my initial losses today to a quart of what they were at peak. I'm really happy with this outcome.
Both were good technical setups on the back of some bad news and a killing for the indices stateside. Very pleased with my entries, and with my exits too. Both had quick double bottoms, and I exited on those. I entered X on a double top combined with MA hit at peak, and sold half an hour later for US$5 per share profit.
I might re-enter, as I believe the GM candle was an inside day - and X has just made daily (thus 52 week) lows. GM is now making daily lows as I glance back, but money in the bank eh?
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