The trading education program has a trading room where trades are called, discussed, and taught. I practiced simulated trading for a few weeks, grew my account $2,000 with some good trading and some bad trading. I think I am ready to trade.
So, I get off work, no sleep, and sit down to start trading. When I log into the room, the trade caller is out till lunch. I made the bad decision to proceed with no mentoring or sleep. Well live and learn.
Trades 8/23/10:
1) 8:32.37 am sell 1073.75. I had no confirmation of a breakout. I just was ready to trade and wanted to be in the action. Bad reasons. Bad trade. lost $62.50. Not the fairy tale start I had daydreamed about having.
2) 8:43.01 bought the 1st reversion to the mean (rtm). Good legitimate trade. +$87.50
3) 9:21.28 bought trying to get catch the bottom. Algo said sell, tape said sell. -$50.00 STUPID Trade.
4) 9:33.56 bought Algo (algorithmic chart) turned blue (up trend) bought early being aggressive. +$12.50. Dumb trade
5) 10:02.14 sold tape trade. +$50.00 originally said not a good trade. when checking it again I could not match the tape. I like making $$, but I have to take good trades.
6) 10:15.06 bought the algo channel turning blue trying to be very aggressive. -$62.50 STUPID trade.
7) 10:19.00 bought when algo was red, bottom line blue, and tape said sell. -$62.50 Really STUPID trade.
8) 10:30.45 Sold the 4th rtm in the value area thinking the 80% rule was in effect to fill the value area. -$87.50 not a good trade. Value area did fill much later in the day.
Sumary: -$175.00
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