DAY 8 of my day trading challenge, day trading crude oil using plus500 for my brokerage, uk.investing for my charts displaying Heikin Ashi candlesticks, support and resistance, price action and a little pinch of luck.
My Challenge has been set I started 8 days ago trying to double my account in 60 trades I have been up and I have been down I managed to get to 26% but then over traded and ended up at -4%.
I have ended up 4% down today with six trades one small profit not really even worth mentioning but the market jumped and i did as well and closed instead closing at a loss.
Welcome back to my avid readers, hope you had a great weekend we didn’t get up to much really mostly walking the dog and a couple of odd jobs along the way.
Well on with today’s trading I’m on train heading up to Aberdeen to go to work for a week so trading might be intermittent as I will need to do some work along the way as well.
Let’s see what today brings I just opened my first position today wish me luck and look a look below for my results.
Trade 1 Long. -£10.48
Stupid Open opened this position just after the UK open because it looks like it’s locked into a range trading sideways but the up pressure looked a bit more than down as you can see in the chart below.
But I opened a bit high and this showed in my trading result again, I think there is a bit of a theme evolving here. I seem to just want to jump in and get trading asap impatient about what the market is doing and just jump.
In the end, I ended up with a loss but that was because of my silly open I must trade better.
Trade 2 Short -£10.48
STUPID OPEN the market closed me out of my long so I panicked and opened a short so this trade was totally avoidable and should never have happened.
the charts don’t lie just take a look it wasn’t even through the pivot line and I panicked wanted in paid the price.
Trade 3 long -£10.43
STUPID OPEN the market was trading above the pivot so I opened again this trade was open for a few hours as it was showing promising signs of trending up see chart below.
I was thinking great get some of those losses back and hopefully make a little today trade three is going to be the one
Then look what happened a massive drop and in 2 mins it closed me out at my stop.
I’m glad I had set my stop as it continued to fall and could’ve been quite costly.
Trade 4 short -£10.39
Good Open – this trade open was a good position the market just didn’t want to do what I wanted it to.
I opened at a resistance line as the market had been trading below but it just passed through and carried on up for a while.
Trade 5 Short -£11.96
STUPID OPEN – at it again and again and again opening too early getting excited and wanting to be in on the trade I really have to stop doing this doesn’t it’s depleting my account a lot.
If I had opened at the right place I would still have it open at a profit now, but I jumped in early and opened a sixth trade for the day which is in a profit now.
Trade 6 short +£10.26
GREAT OPEN after trade 5 I opened another short but on the line this time where trade 5 should’ve been but.
I think greed and guilt were seen during this trade, it dropped to +£32 and I didn’t close I wanted to try and at least cover today’s losses why shouldn’t I.
Well it’s trading isn’t it it wont go down just because I have had a bad run of trades will it the market does what the market does.
It jumped back up so I closed at +£10.26 which is a good thing as it’s still climbing no doubt next time I check its dropped to the lowest point this year 😂😂
That’s how I feel at the moment about trading but I’m still going to crack on and trade another day.