+29 points today, +137 points in total. Again, i am satisfied with my progress.
Promised my wife to pause next week if i am feeling like i just have to trade and not learn my new strategies. Last word on Friday but it is very likely that i will only trade FOMC on Wednesday next week.
Decided to improve my daily journal entry with charts. But as charts slightly differ from broker to broker, especially on the lowest timeframes, i won’t use tradingview, but a screen of my actual trading chart.
In the image above you see a 1m chart on the left and a 5m chart on the right.
First trade was a breakout above the 8-8:59 am high, marked with a little green box. I test Tom Hougaards Premarket Breakout Strategy without any changes with a 9 point SL and a 6 point TP. Today it worked and i got 6 points profit - without slippage this time.
Second trade was a 5m school run, an adaption of Tom Hougaards 15m school run. It is basically a breakout of the second 5m bar after open at 9 am. I was able to get a nice push in my direction and lowered my SL with every 1m bar, I was a little disappointed to get taken out with only 7 points in profit.
Third trade was a 15m school run, a breakout of the second 15m bar after open. Again i got a nice movement and raised my SL with every 1m bar. After a little consolidation price spiked in my direction and i decided to TP almost at the high. I decided to do so because i watched this happen a lot of times and knew that chances are high for a retracement after this “ending bar”. I am proud of this exit for 16 points.