60-day day trading challenge. day trading crude oil using price action, support, resistance, heikin ashi candlestick strategy and a little bit of luck.
I deposited £500 into my account, which I’m going to turn into £1000 showing you my daily trades until I end up with making 100% profit so +£500 within 60 days of trading Read More…..
Welcome back to those of you following my progress. I hope you had a great and spooky weekend we did.
How have you been celebrating Halloween what you have been doing. Let me know in the comments, I would love to know it gets lonely sat here on my own day trading.
Just closed my first position of the day details below but the day is still young and plenty more chances may come later.
Trade one Long +£40.72
I set myself up just before 8am uk time with a brew to see what the market has to offer.
Today 01/11/21 the market from open started heading up quite quickly see chart below.
So I sat and waited until it fitted my criteria for my strategy then I opened a long at 8:21am worried as always and stressing when it first started going down.
Need to get a hold of my emotions as robbie burns in the naked trader says be more Spock no emotion just trade as the plan says.
The market started to rocket up so I was in brilliant wow this never happens to me.
Then emotion kicked in shit I better close its going to drop and I will lose my position at +£40 I gave in it had been at £50 and dipped so I closed.
Still a brilliant result but I will beat myself up and I should’ve left it open but hay I’m up 18% and all things are looking up right.
Trade 2 Short -£10.31
Second trade was loss and was my fault I jumped the gun, opened too early and paid the price.
The market just bounced and took out my stop
I was taking another look at the market on the 5min and 1min time frames.
I thought I would try to get a cheeky 30-40 extra pips out of the market drop.
As you can see on the chart below, I opened too low and the market jumped up and took out the stop as easy as that in 2 mins 20 pips gone what’s a pip read more….
Trade 3 short +£20.37
After my second trade failed I decided I would try my theory out again.
It worked it paid off I could’ve squeezed a few more pips out of it but I covered my loss and made a little as well.
Making it a 1:2 not a 1:3 as my plan suggests but there was a support line below and I thought it would bounce.
I set an auto stop just above line and it worked out in the end see chart below.
I should’ve opened a long at the line as well and could’ve closed at a profit again but there will always be another trade, another day.
|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|