EJ sell order.
Chart broke major support on 4 hour TF marked at thick red line. It began a downtrend, according to the daily. It started ranging on the hourly in between the purple zones. Trade was entered on wick high and was sold at the low point of the next zone. Total profit was 29 pips from 2 orders of 1 lot each. I over leveraged on this order.
TIP: The last picture posted is 30 minutes after the trade was closed. The market retraced perfectly back into the purple lines. If i didnt get out when i did, id be in less profits. Take what the market gives you, be happy, and walk away.
When it comes to trading, entrepreneurship tends to go hand in hand, to be a profitable trader you have to be overly willing to take risk, you need to be overly ambitious and overly optimistic. Along with having those skills sets a successful trader is a bearer of uncertainty and an allocator of his resources.
At the end of 2018 and the start of 2019 virtually anyone we came across was losing money and rushing out of the market where they age old saying of buy when others are fearful was blasting at full blast.
That was exactly what we were doing, 3 weeks into the new year every major sector is up double digits off its low. Now ask yourself what headline was scaring you? Hard to remember right, while most were selling for loses, we were picking up deals and taking profits on the way up. We invested during a time of uncertainty and allocated our resources and now a few weeks later we’re locking in a return in the market that most aim to make in a year in less than a month, now the same crowd that was scared a few weeks ago will buy what were selling and than we’ll buy it back when we retest lows. Where do you see the market trading this week, higher or lower from here?
Stopped out USD/CAD -1% short, Oil drop. GBP/USD closed for 1.7%
Gold short hanging in there +1.1% but spx drop money flows into gold.
Been focusing on around 10 total charts lately. Bitcoin, Gold, S&P most attention.