I had another bad/losing day today. Next week I have to really put my focus back into cutting my position size way down and slowly dig myself out of the hole I put myself into.
I'm getting too easily distracted by these late day extreme conditions and then find myself revenge trading in order to work myself out of the hole. It's funny how you could read all these books about trading and position size, and end up ignoring everything for the sake of trying to make lost money back.
Anyway, I'm going to really have to re-tool my plan and start back next week with very small position size and a more solid focus on what my plan is. What am I doing trading this market (as a beginner) after 3:00p.m.?! I resolved a long time ago (back in the days of less volatile markets) to NOT trade the last 45minutes to an hour of the day, yet here I am trying to scalp moves in hopes of bringing myself into the green.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.