2 Entries on TF 1min
Profit: USD 40
It's another small profit day, but I'm happy. For the first time in weeks, I didn't lose money on a Monday.
Market today's not exactly conducive for trading. Range was tight and this was obvious right after the first leg from 930 to 10am was formed. After that, market simply appeared undecided, and understandably so given that everyone's probably waiting for Alcoa's earnings release at the end of the day. Being the first among the industry to release its quarterly earnings, Alcoa's result is going to set the tone for the broader market in the days and possibly weeks to come.
Looking at the 2 trades that I've made, I realize the wisdom of being consistent in my exit decisions. In retrospect, I would have made a point more had I held on to the first trade despite the lack of momentum in the direction of my trade. But had I done the same (ie. holding on) for the 2nd trade, it would have severely affected my morale coz TF had gone against my trade a fair bit. In my default (undisciplined) mode, I would have ended up in the red for today. By sticking to my exit rule, I have instead made a tiny profit.
Daily Performance Scorecard
No comments:
Post a Comment