Well, well, well.
Market fell, sort of.
I was "hoping" for 34,720 as thats where I thought the best level was.
I was within closing for a loss -200£ in total, then CPI hit and market went back up!
So, a mornings work undone by CPI.
Anyway, closed out all positions for a loss today of -783£.
I did manage my way to scalping the odd 50 / 60 pips.
But my Longs were too far up for me to be able to trade the long side.
My hedge came too late, and I was holding around -800 all the time.
Anyway, I attach my trades, and you can see I closed one scalp for around +60 at the 34,740 mark, before CPI hit.
I am happy (sort of), that my losing day is around the same as a winning day.
Ideally should either have bailed the shorts, or hedged earlier on, as I can demonstrate I can snag 6 scalps of 50 / 60 GBP at a time to manage a losing position.
Also: don't be a "dick for a tick", I was looking to close my positions for nett neutral, before I blew it.
REALLY messed up my statistics.
Coulda, woulda, shoulda!
I must have screenshotted before the numbers got crunched!
Note the trade list remains unchanged, but the daily loss has gone up.
I ma guessing the last 3 trades didnt get updated.
Just being pedantic for clarity.
General observations of watching the markets during the day:
01: I have been aware of levels, especially on the tick-charts.
These are fascinating to watch, and see how they hold, and how they break.
The flurry of movement, and the strength with which price moves up or down, with a related sluggish move when going the other way, eg, strong surge up, gentle fallback down, then another impulse surge, etc.
02: I am aware of levels, but still cannot fathom whether I should expect them to hold, or break.
(case in point, my first trade today, (this evening) was a level break, but couldn't tell if it was meant to continue or rally.
03: I have noticed that my signals can be contradictory! I noticed when in an upmove, I get lots of arrows showing OB, and when in a downmove, there are lots of OS signals.
Obviously, I only consider OS signals in an uptrend, and OB signals in a downtrend, but it occurred to me that they might be the forewarnings of a trend change!
Continuous OB means the market is rising, so of course I am going to get multiple OB signals.
And vice versa.
But, it occurs to me that an OB signal may be early signs that a downtrend is running out, and an uptrend is on the cards.
EDIT: if my study shows this as viable, I can use market structure to trigger trades, rather than MAs, since OB/OS is more related to ups and downs, and more reactive to the true market structure, rather than an MA.
Of course. Stochastics, since they signal OB/OS within a predefined certain range, can be seen as dynamic range-breaks.
I have been mulling over (for a few weeks now) that a new trend change is when the second OB signal is higher than the earlier one may be a true signal for a Long, or the second lower OS signal is the trend change and signal for a Short.
Maybe I should Buy the second OB signal! and Short the second OS signal!
But this then reminds me of Swing Trading that I read about so long ago!
04: I have been aware of Round Numbers today. And how price seems to be drawn them, and prices bounce off, or tarry around.
05: I have been aware of how waiting too long at any price to move, my mind starts to question itself about a potential trade. If price is at X, and I think of going Short, of price stays too ong at price X, I statt questioning my decision.
EAs don't have this problem!
Morning session, resulted in (+223, -10, + 40), total = +250.
Early afternoon, resulted in the need for aggregated trades.
However, I had a spikey event, and it took 20-30 seconds to close 3 of my trades.
Got spooked by that. But positively. I don't think I profited too much, as I was looking to close out around the 34190 mark, where the initial trade did get closed out for near break-even.
Anyway, (+108, + 3, + 93, +163) resulting in a nett gain of +360£.
The overall drawdown was around 300, so good outcome.
Really happy, as one of my trades, short 34,236 got taken out for +108, then I managed to take a second trade, short 34,227, also closed out, so I made money twice on the same price range.
The 34,194 was the trade that caused the aggregation to happen.
Then, price got really wild. I lost confidence on taking on the US30, as I wondered if I would get slipped, so held back.
Got slightly impatient. But, at the same time, took multiple positions.
Happy I got good levels for my aggregates. (esp the 34,509!)
Market went my way, and passed the finishing post with a great market fall.
Happy that I am past the Challenge.
Slightly unnerved that the success may have more to do with market moving quickly, rather my skill.
The total drawdown I experienced was around the 450/500 level.
If the market had fallen more slowly, I suspect I would have closed out my positions for around 200£ wins each. Instead, the tumble allowed me to take more profit. I feel I took about 400 / 500 more than I would have had the nerve to hold on for, if market fell slowly.
I am in the enviable position, to play out the next 2 days at 0.1 lot!