Wednesday, 24 February 2016
Trading Review: 02-24-2016
Main Account: -$662.
Got some really nice trades off on the open. Was up decently on NUGT (up about 300 on NUGT) and MBLY (MBLY open trade isn't the reason I was up on MBLY for the day).
FSLR. Obviously day would have been a lot different without FSLR. Worth going through, and include a chart here. The loss on FSLR can be broken down into 3 trades. I did take the stops (with a bit of stubbornness), so that's still an improvement... But similar to the other day where I tried the trade too many times (think it was FOSL on the 17th). After the first stop-out it was obvious that it was in an "opening trend". This means that I needed to switch to the bias, short para's/strength, or buy at support. Any trade that is counter-trend is a scalp until proven otherwise.
I actually switched mostly to this mindset, the bit I missed was (1) To short strength, (2) It's a scalp until proven otherwise. This led to me taking too many trades, and hitting too many stops, then adding in on a minor trend shift, rather than a clean reversal - then getting stopped. Would have been better off avoiding it, or setting alert for support.
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