Day four of my 100% day trading challenge, day trading crude oil using plus500 as my broker, UK.investing for my charts, Heiken Ashi candlesticks with support, resistance, price action and a little pinch of luck.
Take a look at my previous blogs and my mission statement which started last week just click here…
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So here we are already onto day four it’s 02/11/21 I have taken the morning off today it’s now 2:30pm my wife wasn’t at work until 2pm today.
She is a part-time veterinarian nurse and does different shifts according to staff levels but that’s enough about me and my life walking dogs and eating lunch with my wife the stuff of dreams.
I just wish every day could be like that, that’s what I’m hoping to achieve with my trading to be able to work when I want and how I want.
Trade 1 Short +£27.55
Sat down with a cuppa Yorkshire tea and a couple of hobnobs mmm, let’s see what the market has to offer what’s it been doing today without me.
Whenever I look back on old charts I see so many opportunities and profits then when I trade I get tunnel vision need to try and stop this and see the market for what it is.
Spotted my chance see far right of the chart I’m going to open a short at the resistance line above market and aim for the support line below
Argh I’m starting to beat myself up about my position now it dropped to +£26 which was the support line and it’s now bounced.
I’m trying to keep my cool and convince myself to keep it open I’m going to leave it for 5 mins and see what happens.
I feel that the upward trend has lost steam it’s just scalpers who are trading these lines and making the market jump around.
Managed to close just below the support line which was a bonus as you can see above another profit which is great.
Trade 2 Short +£12.40
After I closed the first position above, I was watching the market and it had bounced off this line a few times in the past so I opened at what I hoped to be the top of a wave.
As you can see below on my closed position details the amount line it’s now at 85 barrels, not 70 barrels I’m trading with a bigger lot as my funds are growing.
I’m still not risking any more than 2% of my pot which sticks with my strategy which is now a £12 risk, not £10 as it’s been previously.
I Ended up closing the position early as it’s getting close to UK open and the price was climbing past previous support.
which should’ve turned into resistance but didn’t so it’s better to close at a profit than a loss.
I’m still going to monitor the market and maybe see if there is one more trade but I’m starting to feel monitor tired now so may just pack up for the day..
Trade 3 Short -£12.58
Well, I couldn’t resist I opened another position to finish the day off and it looks like it’s going to be a loss argh.
Oh well should’ve just sat on my hands, I opened the same place the last trade as it looked to be a good resistance spot but the price shot up to -£8 almost straight away.
I’m holding out as the 5 min trend hasn’t been broken and the 1 hour points to a down but it just depends on what the market fancies doing really.
It’s now touched a profit but is bouncing all over the place not really sure what is affecting this but I will ride it out for a little while and see what the outcome is.
Today has been another good day I traded three times
I hope you’re enjoying my blogs as I get a lot out of writing them as it’s helping me trade better as I have to prove it now but.
Day trading really stresses me out lol, I need to chill not sit and watch the ticks thinking every one of them is going against me.
The market isn’t out to get me or anyone else it’s just doing what it does because of peoples opinions, news and indicators.
If it doesn’t work out it doesn’t matter move on there will always be another go at it keep an open mind.
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