I Just Work Too HARD For The Gains - 05/05-6/20 RECAPHi traders,
Due to technical difficulties, I wasn't able to post Tuesday Recap, so I merged Tue and Wed together.
Oh boy, this week started on a good note and turned into frustration and below-average results... I'm still up, but based on my statistics, I'd expect to be much better off after 8 trades since Monday. This is the real challenge with Datrading, not being able to spot the formations and entry points.
Anyway, staying positive as a profit is profit, here are my trades:
Tuesday:
1) PCG - LONG @11.65, failed to continue. -1.1%
2) UAL - SHORT @24.80, a good breakdown situation, chickened out but at least only a minor loss. -0.23%
3) WRK - SHORT @26.92, failed to add later on for bigger profit. +1.41%
Wednesday:
1) PINS - LONG @18.24, looked well all the way, then crashed. At least reduced risk. -0.66%
2) SPCE - SHORT @17.21, a beautiful triangle breakdown that offered some +1.2% immediately, which I was too slow to take. Then grinded for another hour to reverse 4c before my TP. Frustrating reality!! -1.07%
3) JPM - SHORT @89.98, a typical failed breakdown, at least I recognized it somewhat soon. -0.6%
4) GOLD - SHORT @26.79, a nice, albeit not full, winner to end the day and relieve the frustration from SPCE ;) +1.69%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day:
Tue +0.08%
Wed -0.64%
Total PnL for the week: +0.97%
Good trades,
Tom | FINEIGHT
