TNA gapped up and retraced on low volume to the EMA's. It then formed an inside bar. Went long there. Took partial at R1. My next target was PDH but the candles were closing strong. So I decided to hold on but when price came back, I exited the balance a little below PDH.
AAPL gapped up forming a WR first bar. Price then retraced in NRB to 5 EMA. My entry was price formed a hammer. There was a better entry later - tailed, strong closing inside bar. Took partial at morning high and sold remaining when price formed a hanging man.
Consolidation near the EMA's. Went long inside the consolidation actually. Took partial near PDH. It then formed a long tailed red inverted hammer. But when price, instead of falling started to continue up, added back. I have noticed that after a long tailed hammer if price continues up at least half way the hammer, the odds of continuing upward is high. Exited entire position where indicated. Price tagged R2 later.
TNA gapped up and retraced on low volume to the EMA's. It then formed an inside bar. Went long there. Took partial at R1. My next target was PDH but the candles were closing strong. So I decided to hold on but when price came back, I exited the balance a little below PDH.
AAPL gapped up forming a WR first bar. Price then retraced in NRB to 5 EMA. My entry was price formed a hammer. There was a better entry later - tailed, strong closing inside bar. Took partial at morning high and sold remaining when price formed a hanging man.
Consolidation near the EMA's. Went long inside the consolidation actually. Took partial near PDH. It then formed a long tailed red inverted hammer. But when price, instead of falling started to continue up, added back. I have noticed that after a long tailed hammer if price continues up at least half way the hammer, the odds of continuing upward is high. Exited entire position where indicated. Price tagged R2 later.
4 comments:
Hi,
I am curious about two things. Since you started day trading full time in 2008, which mentor(s) did you look to the most for guidance?
You seem like a student of Trader-X I presume, and maybe someone else?
Also, what charting software do you use?
Garret:
Thanks for visiting my blog. I am a student of Trader Jamie (http://traderjamie.blogspot.com/). His style of trading fits my personality. He is a great & decent person. I wish I had found his blog before. I would have saved time and money too.
How long did it take you before you became profitable consistently?
More importantly, how long did you practice trading before you took the leap to full time and made it successful?
Hi Garret,
Sorry for the delay in replying. I started practicing from Mid. May I think. I used a real account to practice but with a very small risk per trade. I would say it took me 1.5 years to become more confident trading and become consistently profit but of course the amount differs every month.
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