Today was a bit tricky. I hadn’t done a lot of preparation for how to apply my trend rules with a large gap down. I sat out the first hour and just watched. I expected either a move up or down and the market surprised me by staying balanced. I got long on the double bottom but took it as a scalp since it was a fade. Oops. It would have been nice to ride it up. Then I shorted the double top as a scalp again because odds favor one of these two extremes breaking.
This makes 17/18 profitable weeks and I’m really pleased with that. I did well this week considering I only traded 3 days.
My work on my trading plan was very helpful. I still made mistakes but I’m learning to recognize them real time instead of after they turn into losers. Hopefully the next step will be to recognize them before I click the DOM!
Next week I will trade 3 contracts when the market is trending. I want to ease into trading 3 contracts and as long as everything goes ok I will then go up to 4. I’ve been trading 1-2 for a couple years now and I need to just go for it.
Earlier today I wrote a post with advice for someone new to trading, just in case you missed it. Have a nice weekend. I have a lot of stuff to catch up on around the house, a picnic, and my youngest daughter’s first poney club lesson. So lots going on here and I’ll have a nice break from trading.