Day Trading Diary 17th

Got back half my loss from Thursday with the final day of trading this week. Still playing the cable breakout, tricky entry point due to the pivot point. Go in early and you face the problem that it will not break the S1 pivot. Go later and you miss the move and it retracts back against you.

Same as earlier in the week, the candle price action mixed with time and macd suggested a strong short and I went for it!

I made the decision to go in early which could have gone horribly wrong. Could I or should I have waited? The answer is yes, you should not in my opinion go in until the candle has closed below the pivot point.

It proved to be a good decision as the second of the three red candles screamed past the pivot point.


In total I gained 23 pips and could have taken more. I resisted this temptation to stay in the trade longer for fear of the previous days quick retraction!

I thought the behaviour could be similar so grabbed the 23 pips, Very keen to finish up on the week.

This weeks key learning points:

Think carefully before you get into a reverse trade after a loss. I know this already but was far too giddy from the weeks performance and should have protected profits! Another holy grail of trading that you need to keep remembering. Control your emotions!

Hope you had a successful trading week!