Monday 18 June 2012

Today's trades

Another frustrating day today.  I took 4 trades, 2 winners 2 losers, however, the 2 losers were the frustrating part of my trading.  My NQ trade stopped out to the tick then turned and moved 45 points in the direction of my trade.  It was at a demand level formed on Friday afternoon. But my SL was too close, only 1 point below the bottom of the demand level. I also had a demand trade on CL, and I was in after a bounce from the zone, but it was stalling so I moved my SL up and was stopped out for only 2 ticks loss, but watched as price then rallied over 100 ticks.

My two winners were good entries and the exit on my ES trade was virtually perfect for 11 points at a throwback level. The ES trade was similar to the NQ trade as it was a demand level from Friday, but my SL was not hit this time. The CL winner was a supply trade, but I only took 30 ticks, as my exit was not too good. I should have exited at the demand zone, where I took the long later on.

I should really have re-entered the NQ long, as I know how the MM operate, but I was too annoyed at the time.  So I really need to keep a clear head and focus on what is occuring on the chart rather than let my frustration get the better of me. I still need to work on my patience and discipline.

So although frustrating, overall it was not too bad as I am now only taking the better S&D zones identified with the aid of the RPM/VPI indicators.








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