Wednesday, January 24, 2007

Jan 24 trades


This morning I saw the long signal on NQ and got 4.25pts. I cut my profit short though. I need to improve my trading by letting my winners run forther. I plan on scaling into my breakout trades, and exiting half the position at my target and holding onto the other half until I see it's time to get out.

The research and analysis I'm doing with tick, time, and MP is helpful. What I need to look for is momentum shifting into low volume areas that are prime setups for breakouts. That is the trade setup that happened today in NQ.

I'm starting to right down my tick, time, and MP levels as they happen during the day, so it will help keep my focused and to make it easier for me to put in my journal later.

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