Wasn't able to log all of my trades this week in this journal, but many of the early trades were fairly risky and involved extensive recovery on most positions, as almost all of my entries were poorly place. This being said, I still kept relatively calm and collective and willing to accept losses if they occur.
I am really taking to the concept of building a position as well as recovering positions that have gone negative. Taking profits or BE quickly during these "building" stages is key, I cannot get greedy. I find that 5-10 pips is all I can get most of the time. I also need to be sure that I am entering clear of any consolidation. These are all reversal trades and should only be entered at HH's or LL's, with the idea that price almost always pulls back to the last wave of consolidation.
Patience is still what I lack most. I realize this but still find myself frequently jumping the gun. I guess the reality is that my most profitable trades are generally the ones I end up having to build, or recover from. The occasional pinpoint entry is great, but I am usually only carrying one position, where as the recovery and build could end up with more.
Overall I am extremely please with how my trading has evolved. I finally stopped searching and just started trading. I am treating this seriously and as a true business, but am not taking so seriously that I am not enjoying it, I am having a great time, and looking forward to reaching my goal of Level 52!
Long 1 position at 4368 a couple of hours after the open with the expectation of a gap fill, which did already, still holding, will check back in a couple of hours.
