study in progress

I have been following this new trader for 3 weeks now. Here are some of the trading technics I've learned so far:

1) Volume analysis
2) S&P comparison
3) historical behavior
4) hot key execution
5) market condition determines profit target


Note from Monday's trade:

-- Negative 10 at the end of the day. So it's pretty much even. Other traders did well comfortably. I conclude that I would do better if I setup alerts more, and configure hot keys for faster execution. I'm thankful for breaking even since I was down 1k+ at a point with bad FX trades (scalping a push on reverse, unfortunately onto another breakout)

Note to self: Please look out for breakouts more before considering reversal.

Things I did that saved this mistake:
1) smaller AA
2) only DD when it makes trading sense, not emotion
3) target to break even asap


Note from today's trades:

-- very very slow day today. I added negative $20 on the book. Highest gain on the day was $50. Considering commission was more than $50. I'd consider it a flat day. I could have added positive number if I didn't play the Palm trade when it was declared to be a iffy trade, and I still jumpped in early, and tried to DD.

It seems advisable to enter after the entry point is hit or passed for mild to medium momentums and enter slightly before for trades with large momentums. Profit target should also be directly proportional to momentum. This would mean momentum = profit opportunity.

[Posted with iBlogger from my iPhone]