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 to set for myself is a maximum of two trades per day. However, I find this difficult because of situations like this trade.

As I mentioned, this was the same range that caught me twice today, resulting in two losing trades. But after I noticed that the price had tested all the lows, trapping shorts, I decided to enter long right at the bottom of this range.

Current Trades = 4 Wins – 3 Loss – 93 to go. Total +47 ticks.