Hi traders,
Alright let's wrap this week up!
*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 description.*
SPY was making up its mind most of the day but it's just the way it is and it's our job as traders to adapt. I only managed not to lose THAT much today, hope you did better!
Five trades today:
1) BIG - LONG @20.05, closed little above my SL @19.25 for a -0.875%
2) SIX - LONG @16.65, this one JUST hit my target @17.45 for today's only winner of +2%
3) SABR - LONG @7.05 and this time I wasn't so lucky. It turned couple of cents under my PT @7.55 and went back to BE and I closed it at the end of the session for -0,2% loss.
4) ERI - LONG @20.02 - a classical example of a fake breakout, stopped out @19.62
5) HAL - LONG @9.01, the break was good but then SPY stepped in and took most of the stocks down, including HAL which in retrospect could've been a nice reversal trade from my SL on.
Total PnL for the day: -1.1%
Total PnL for the week: +0.95%
I wish all of you a great Easter, relax and let's all get prepared for another week in this wonderful trading business!
All the best.
Tom from FINEIGHT
Alright let's wrap this week up!
*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 description.*
SPY was making up its mind most of the day but it's just the way it is and it's our job as traders to adapt. I only managed not to lose THAT much today, hope you did better!
Five trades today:
1) BIG - LONG @20.05, closed little above my SL @19.25 for a -0.875%
2) SIX - LONG @16.65, this one JUST hit my target @17.45 for today's only winner of +2%
3) SABR - LONG @7.05 and this time I wasn't so lucky. It turned couple of cents under my PT @7.55 and went back to BE and I closed it at the end of the session for -0,2% loss.
4) ERI - LONG @20.02 - a classical example of a fake breakout, stopped out @19.62
5) HAL - LONG @9.01, the break was good but then SPY stepped in and took most of the stocks down, including HAL which in retrospect could've been a nice reversal trade from my SL on.
Total PnL for the day: -1.1%
Total PnL for the week: +0.95%
I wish all of you a great Easter, relax and let's all get prepared for another week in this wonderful trading business!
All the best.
Tom from FINEIGHT