Today, I again only traded the afternoon session – between 1pm and 4.30pm. Although I had been monitoring the charts from around 11am.
In terms of instruments showing a trend – I identified primarily all the Yen crosses (excluding CADJPY), gold, oil and two CAD crosses. I have gotten quite accustomed to looking at the indices but they are consolidating somewhat this week, making it difficult (for me) to trade them. That said, I did try to get into a short S&P trade targetting the 2000 level, but just missed out – that of course would have been a very nice trade.
In the end, I only took two trades – both on oil. I ended up with a net win of 0.76R. In documenting the trades, I had to admit that I had a “bad” entry on the 1st trade – though this was the first bad entry and/or bad setup in 8 trades – one of my milestones in November is to halve the “mistake” rate in the trades that I take. Shockingly, in Oct it was 1 in 3 that was either a bad setup, or a bad entry!
I managed the trades in accordance with the position management tactics. And I paid very careful attention throughout the duration of both trades. Good work.