Shardy's Day Trading Journey - Day 3 - Learning Day

Today was a great learning day and one trade from a winning day.

My first trade came early in the morning and it quickly turned into a losing trade. I was able to recognize it and get out before it got too bad. I bought at the first yellow arrow and as you can see it quickly went down and I was out. I was playing for a jump in between my moving averages.

Best trade came next. I was able to draw a trend that started yesterday into today. I bought on the second yellow arrow right when price hit the trendline. Made a nice profit and should have been in longer than I was but I was chasing bars with my stop and got stopped out. As you can see at the red arrow price broke out and I still should have been in the trade at the point making it even stronger.

The third yellow arrow is where I had my second winning trade of the day on the trendline again. The fourth yellow arrow represents a place where I should have shorted. I was eating lunch and missed this trade and it would have been a great one!

As the market was close to closing I trade to make one last trade in between the moving averages again. I shorted and obviously lost on the trade making me slightly down on the day. The lesson learned for me is that when the market is about to close just pull away and take what you have. Also, I missed the good trade off of the bottom trendline just before.

To recap what I learned:

1.       Never take my eyes off the chart so I don't miss good trades

2.       Don't trade close to the end of the market day