Took 3 trades today then called it a day after being on the right side of a Trump Tweet making 10 points on NQ in seconds. The first two trades had very good entries, but just was not paytient enough, moving my stop too aggressive taking me out of the trades before full profit targets were reached.
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After almost hitting max daily loss on Day 2, I refocused and was able to string back to back winning days for over a $1,000 gain. The account is up a little over $300. The importance of risk management is so key because it will save you time: days, weeks, months and even years to recoup losses from a single day.
Today was the first day back trading in the $50k TST combine. Took four trades total: 3 winners and 1 loser. In this video I cover each trade live as NQ broke strong out of the gate at open and formed a nice bullish trend. But the huge miss on the ISM Manufacturing PMI turned the trend bearish in a few seconds.
In this video I break down what I have been doing the last two months from transitioning to a new software developer role at Intuit to discussing my progress with TST to covering briefly a self-sabotage cycle that I encountered that caused me to reset my TST combines plus loss of personal capital.
Happy Sunday to you! Markets finally broke out of Augusts ~5% consolidation between 2,800 and 2,945 (S&P 500 futures) to the upside closing the week at 2,983 thanks to positive trade hype that US-China trade talks are now going well again, and with the possibility of both countries continuing negations later on this month.
I hope you have been well, and enjoyed the long holiday weekend with your friends and family. This week I’m back with my stock market reviews as volatility looks to continue in the market thanks to the US-China ongoing trade war, President Trump’s tweets about the US-China Trade War and stance on Fed Chair Powell’s monetary policy, fresh new economic data and if the Federal Reserve is to cut interest rates.
Today was a half day, or more like a quarter day for me since I had two work meetings in the morning that I had to balance with trading. Within the time I had to trade, I was able to focus and take trades in my zones as planned resulting in +$565.
The market gapped up over 1% due to USA and China reaching a trade truce. The market held its gains overnight and for most of the morning session. Once I hit over $600 in profit, I shut it down for the day since trading gaps this big can be tricky.
Today I was able to squeeze out $542 in profits. However, I definitely overtraded and broke a key risk management rule I have by moving my stop and adding more contracts substantially increasing my risk for the last trade. The trade ended green, but to me today I give myself a D+ for the way I traded today.
Today I traded NQ again. Most of the volatility and movement happened overnight with plenty of long and short opportunities. However, the morning cash session only had a ~25 point range so I scalped 2-4 points at the ends of the range and during rotations to lock in $505.