Through a combination of live and sim trading, I continue to try and get in touch with my intuitive side as a trader. I’m beginning to see some differences but nothing to get too excited about, yet, that would relate to a more consistent P/L. The “tale of two traders” is a rather interesting game to play with what will hopefully provide some key insights and opportunity to improve P/L.
I began the day with a live as well as a sim long in the 23’s approx..15 min after the open. With the New Home Sales eco report looming at 1000, I was keeping a short leash on my live stop and gave a little more room with the sim stop. I was stopped out in the live by two ticks. The sim trade remained active with a stop below 20 / Angel feet. After the Angel held and I got a confirmation candle, I re-entered long in 21’s in the live account about 10 min prior to the report. This stop was again tight but the better entry gave me a lower risk opportunity. Result: -4.0
Price began upward after the bottom was hit in the 20’s. With both trades on, I had a scale out planned with live and all out of the sim with both high targets in 28’s. Scaled out of live in 25’s just below yesterday close. Took the live trade up the Demon’s feet and closed both trades in 28’s. Results: Sim +10.0; Live +11.5
Tried a reversal from 30’s in live with ½ position and one point stop which was stopped out by two ticks before heading to initial target area of 28’s. I need to hone my entries. Great trade idea, just a little bit off with entry and/or stop. Result: -1.0
That was it for the live trades today. Played some scalps in sim during PM session by using combos as described in EWS. Played the short side with two trades. Was only looking for 2-3 points as I shorted in 28’s and again later in 26’s. Both were positive trades. Result: Trade #1 (no scale) +3.0; Trade #2 (scaled) +3.75
Again today I had a good feel for the ebb and flow with the market. After the first 1-1 ½ “Hour or Power” there were good scalp opportunities as the market settled into a six point range. I find some of the EWS concepts becoming more evident to me and slowly influencing how/where I trigger my trades. The TC set-ups continue to provide good profit opportunities.
Trade Well !
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