Day 12 -5% 1 Trade day trading challenge crude oil

Day 12 of my day trading challenge using plus500 as my broker, uk.investing for my charts which display Heikin Ashi candlesticks, with support and resistance levels and a pinch of luck.


Hi hello, hope you’re having a great Friday almost the weekend let me know what you do to make a crust in the comments I would love to get to know some of my readers.

For me, it’s stuck on an oil platform in the middle of the north sea until Tuesday when I’m due home.

Today I’m trying to take a more relaxed approach I find myself getting wrapped up in every pip and every minute of trading.

If like me youre trying to find the perfect entry or exit for a trade a book im reading at the moment is worth a read 5 second rule. Its all about counting down from five then getting on with it.

From everyday tasks to the bigger picture it makes things happen just like me starting this blog you have to make a start to make it real.


Trade 1 short +£30.61

Sat watching the charts and support and resistance levels trying not to jump in for no reason like a lot of my previous trades.

I saw what was a good opportunity to get in. The price had bounced off a support but was in a downtrend.

I applied the 5-second rule and jumped in.

It’s all good up to now but I have also adapted the protection mode as the trade progresses why have a fixed amount the market is doing what it wants so should my stop.

I moved my stop to £0.00 just above the last high so if it does jump I should only lose a few quid.

I’m going to adopt this on my trades now and hopefully keep my losses smaller.

I set my profit at 80.40 whilst I was working and adjusted my stop to +£5.

I came back from Working and position had closed.


Conclusion

Well it’s a positive day I’m clawing back to my initial deposit so what happened today to help me and my account.

As you can see one trade today because I have been busy working for a change not watching charts and dreaming of all this free money I’m going to get.

I waited this morning before opening the trade had a couple of factors to help with my decision and Lady Luck helped as well.

I had my stop set a lot lower like yesterday but I told myself to assess my position and look for a likely turnaround.

I change my stop to this 80.81, low and behold it was the low for the day what a guess thanks lady lick.

So I’m going to slow my trading right down now to try and pick specific spots to trade that are more likely to produce a return.

Wish me luck 🍀.

Published by J Little

Jonathon Little 39 years old passive affiliate income website owner.

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