It's actually quite hard to write a trading blog today. The day before the inauguration of Joe Biden. Thats because the markets have been slow moving and to be honest ... quite dull. To be expected of course but it has made the opening hour really hard to trade - very hard to find a trade. So hard that in the first session (yes session not hour) we only managed to make a paltry $180 high probability trading.
The day really was like an empty tin can - one you wanted to kick down the road or just put in the recycling.
Now we're not complaining as a profit is a profit. Given the market conditions were choppy to say the least we were pleased that once again Inteligex kept us out of trouble. The net result was three trades. Two winners, and sadly another loss.
We never hide our losses - it was a loss caused by human error not by the product - but a loss is a loss.
What did we do? Moved a stop to the wrong place. Tightened it too quickly. A complete rookie error.
Anyway .... having lost $100 we then had two winning trades of $200 then a small $80 trade before stopping trading for the day. Why did we stop? There was just no volume and the emotional side of trading (the one that makes you trade through boredom or other reasons) was starting to rear its head (hence the error).
Our tip to new traders and experienced hands alike is when you feel that happening, it's time to just stop. Maybe go for a walk or do something else. Even as a full time trader that is true. What did I do? Well, I got on my indoor bike and smashed out a 25km bike ride in 39 minutes. We walked away, which is often the hardest thing to do. Given the market though, perfectly sensible.
For tomorrow - we may not even get a trade away. Inauguration day so we're expecting low volumes again.
Live trading track record @ 19 Jan 2021
European session: No trades
First hours US trading : +$180
Results: -$100, +$180, +$1000
44 trading days of consecutive profits.
142 winning trades, 3 losing trades, 2 break even trades.
Trading room profits 2021: +$5032.50
Last 10 trades: WWWWWWWLWW