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There was a lot of volume in today’s market. I must admit, it made finding an entry quite difficult. There are two setups marked on the chart above. I did not take the “1 Tick Trap” because the ATR was too high, and I was unable to enter safely. Now, let’s review today’s +24 tick…
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I wasn’t expecting much today since it was a US bank holiday, but when I opened my charts, I noticed that the ATR was higher than usual, which indicated increased volume! This is likely due to the huge fall in price, which took place on Friday afternoon and can be seen in Trade 11. A…
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If there was ever an image, picture, or reference that you needed to convince you to place a stop loss, this is it. Having entered a long trade, thinking that many had been trades at the “trap short” text. Without any warning, no planned news, or gut instinct. The market fell. There isn’t much to…
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As some of you know, I often write about trades after I have taken them. This was mainly at the start of my challenge when I was trading too frequently. This trade is one of those early trades where I was not trading the right way because I was taking too many trades. However, let’s…
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As I write this post, the future me is reflecting on the past me. I remember at the start of this challenge, I was taking 4 to 5 trades a day. I wanted to write about each trade I took, not just simply post a lot of pictures. Therefore, many of these posts are published…
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When I started this challenge, I said I wouldn’t break even and that I would accept either a win or a loss. But when the time came, I couldn’t help myself. On this occasion, I am glad I took the break even. However, I would have been happier with just a few more ticks. As…
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After taking a hit on trade 5 and trade 6 from this same range, I could see that the range was confirmed, and I was willing to play its game. Persistence and perseverance While I work on my goal to become a full-time trader, I realise that overtrading is an issue. A rule I want…
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Having taken a loss on trade 5, I felt that the overall bigger uptrend was beginning to resume. Therefore, I was considering a long position. In hindsight, I still don’t have much more to add about this trade. I don’t disagree with my entry criteria. However, for future trades, I may need to enter above…
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Losses happen, and I’m not worried about them. The risk-to-reward ratio is what should, in theory, keep me on the right side of the market, as long as I am disciplined and achieve at least a 33% win rate. Sometimes, I’m the one who gets trapped In this setup, having seen the price bounce away…
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As you may have noticed, many of these trades were taken on the same day, but I have spread out the posts because I simply cannot write so much in one day. Looking back, I definitely need to trade less each day. When extreme, trade Looking at the image above, you can see that the…