This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Not me, the markets got pummeled! I paper-traded my variation of a system inspired by 00NR7’s system as I said yesterday that I would. There were so many Briefing gappers that I didn’t even use my Prophet.net scan. I did make some changes to my plans, though. I watched 5, 10 and 15 minute charts for the setups, and I took setups that weren’t strictly hammers, and I also faded some gaps rather than trading the direction of the gap. I took 4 trades, 3 wins and 1 loss, for a total of +5.2R for the day. I met my +5R goal in one day! Awesome.
Thanks to everyone who commented on my rant from yesterday. I was humbled and blown away by all the support I received, and it really helped. I know this is only one day, but I plan to stick with it and keep my focus, so I’m optimistic about the future. It kind of proves to me that I do have some skills; I was just out of whack for the last two weeks. This pace and style of trading seems to fit my personality much better than shooting from the hip 17 times a day. Maybe someday I’ll get there, but I don’t need to start there!
The charts of my “trades” are below, with the usual orange=entry, red=stop, light blue=partial, blue=exit format:
CHINA 5′ Short Continuation
MGG 5′ Long Gap Fade
PSUN 15′ Short Gap Fade (I got whipsawed out, but the trade did eventually go in my intended direction. I entered based on a break from an inside NR7 candle)
AAPL 10′ Long Gap Fade
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
