So far February has been a struggle for me. I am at break even for the month and do not seem to be able to pull ahead. It is quite sad to be spending so much time on this and not really be profitable. But I guess that just means I am not yet good enough, and need to keep working at it.
I have meetings later in the day so I decided to post this chart before the market close. I played ABX as a C&H. The bar that actually broke the base was too wide for me, so I decided to see if there will be a pullback. And the next doji candle was perfect: only 0.15cents from high to low, so this was a nice trade. I exited in full at RZ because I find the market quite choppy and wanted to lock in some profits. Normally, that would be a place to partial and then hold the rest for the ride.
3 comments:
You are not alone. This month has been the worst for me and I think you might do yourself a favor and step back and paper trade until you see candidates reappear and your paper trading is going good at selecting the winners. This is unusual because for the last two years I have never seen it this dry. Just a suggestion - I have a job so I can take the luxury of not trading.
Me too. I also have a job and there are days in which I don't trade.
I use paper trading when I want to learn new setups or when I am loosing money. Then I think it is useful to step back.
I'm new to trading (less than 2 years of experience)I keep trading with minimal $risk (1/1000 of my capital) until I'm prove to myself that i'm profitable in a constant basis. It's a lot more realistic that way.
I took GFI trade at the same time. The pattern was similar to ABX. result: Stop BE.
Anarco: Nice management for your doji entry ABX.
I got a good trade with TEVA (long break of the 5th candle(10-min). Thanks to traderx guidelines on this setup.
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