This trade was seen to be partially successful
I entered this trade again focusing on my entry and management of the trade. I have confirmed that it is best when I enter on the 5 and manage the trade using my 2 minute chart. I remain in the mechanical phase of trading, im simply of aware of the idea that the trade will need room to work. My goal is to enter the trade and gather a dollar on the break. My risk reward ratio should always be that of at least 2 to 1, however, I will be using the 5 min ATR to calculate the stop which could be more than a dollar. In every case however, I will be making sure that as soon as a close above the 5 min low on the 2 min chart that I exit the position. The main reason why this trade was a failure is that I did not allow it to fully work to reach my 1 dollar goal. Why, I believe that I was worried due to the 4 string of losses that I have taken over the last week. I will do my analysis of my trades and place this week behind me. I have reach 10 days out of my 20 trade sample and I am fairly interested in seeing how the remainder of the set will turn out. I am also enjoying the usage of the clean charts and I believe that I may continue to trade this way for sometime in order to truly understand the price action in the market. I also believe that it allows me to clearly identify the trend.
To next week I go!
Education --> Hard work --> Failure --> Success
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-03-01 09:35:04 | NTNX | sell | $34.720 | short |
2019-03-01 09:47:38 | NTNX | buy | $34.170 | 0 |
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