Hello Everyone!
Was finally able to trade Wednesday morning. I tried to trade after my last night shift on Tuesday morning, however, it didn't go well at all. None of my moves made sense. I was too tired, which in turn made me impatient. The lesson at this point is not to trade after my night shift. I figured it wasn't going to go well but I just wanted to see how I would do...
Well Wednesday morning I took 4 trades in total (CAT, 2 trades in IRBT, TXN). For some reason, only took 1 screen shot of one of the trades (IRBT)
The first trade was CAT. Tried to trade right at the open. Was hoping for a short squeeze but I had no idea how to do it but stayed in the green. Wasn't to serious about it, as my trading strategy right now is to wait 5 min after the open. 4th Trade was TXN, noticed an ABCD pattern and went for it. Didn't make much - need to get better at figuring out share size later on.
Trade 2 and 3 IRBT
Waited for the 5 min ORB. Went long right at the next 5 min candle with a stop loss at the VWAP. Started to look at the 1 min chart. Tried to scale out (too early) but hit the wrong hot keys and sold all my shares. I guess, now it was a good thing. But not good if I want to stay technical. Then noticed an ABCD pattern in the 1 minute chart. I also know that 5 min ORBs are usually ABCD patterns in the 1 min charts. I saw the hammer doji forming and went long. Was I too early? Stop loss just below the 9 MA. Scaled out at at least 2R this time. I then figured it was a good time to practice on how to enter stop ranges. Brought my low range to the B/E and my high range at my target for the high of the day.
As always, feedback is greatly appreciated. Thanks!