Day trading strategy day one 28-10-21 two trades one small profit a start on my 100% profit mission.
Above are today’s results as mentioned in my previous blog read more…
I took two short trades that means I expected the market to drop the price go lower.
Both trades were close to each other at 4:30pm I felt that a reversal of the previous uptrend had started and could possibly make a new low.
I ended up making a Profit of £4.92 it’s not much but still a positive position.
As you can see below the downward push I was expecting didn’t continue.
It didn’t continue then went up to a new high for the day
Break down trade one
Had the morning off as only just got home and my wife has been busy at work so did some cleaning shopping and domestic chores so didn’t get a chance to sit down until 4pm.
Above are details from pluss500 you can see times open, position size and lots of other info below is the 1 min chart that I used to help me decide to open the position.
You can see my open position above 16:29 sadly the market jumped up and took my stop-loss out so I lost -£9.18 in total in 7 mins.
Break down trade two
Below is the trade info from pluss500.
The trade was open for 42 mins and made a profit of £14.10.
As you can see on the chart below I didn’t close at the perfect place but I wasn’t far off the trade went to £25 but then reversed.
There were two reasons I closed
the first and the main reason was that I was going out to pick drop my son off at football and pick the wife up from work.
The second was that I just had a gut feeling it had bottomed out let’s see what tomorrow brings.
The chart above shows the open time you can then check and see that I closed the position just after the low which was a great call.
Day trading conclusion
|Weekly trades||Profit – Loss||Total|
|29/10/21 Trade Three||+ £51.47||£551.73|
|29/10/21 Trade Two||-£12.79||£500.26|
|28/10/21 Trade Two||+£14.10||£522.77|
|28/10/21 – Trade One||Loss -£9.18||£508.67|
I managed a profit today which is great considering I didn’t have a specific opening point I just wanted to get in and trade.
This is totally the wrong thing to do its one of my main issues jumping in without thinking seeing the stock tanking and thinking I need in now panic sets in and generally, the trade goes wrong but today it went ok.
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