Trading Journal
“First learn to trade then the money will follow!”
TQQQ TRADE
Today, I decided to traded the TQQQ on the daily timeframe on the basis that there is a high probability that the Nasdaq will be experience a pull back very soon, as there has been about nine or ten green candle days to the upside without any price reversals.
Now, on further reflection, because most market participants can see what I see, the QQQ will probably be cause to rise by the big players to further to shake out all the obvious traders that have gone short.
To my credit, anticipating that this is likely to be the case, I choose to put on two small short positions, one above the other.
Next Action
- Monitor the QQQ on Monday to see if my entry had been triggered, the market’s current price action.
AMZN TRADE
In order to deliberately train and condition myself to put on numerous high probability trades without thinking too much about it, I decided to trade Amazon today.
As can be seen in the chart about, Amazon’s relevant trend lines suggest that there is a high probability of a price pull-back in the coming week. Therefore, I submit two short orders (purple line number 1 and 2) with the appropriate stop-loss (purple line with no entry sign), and I marked the take-profit level (purple line with green box and tick) without actually setting an actual take-profit order.
Next Action
- Assess AMZN trade on Monday when the market re-open.
LUV TRADE
Learning that our previous trades are another important source for future profitable swing trades, I decided to set a long order to trade the airline stock LUV.
This time, I decided to risk a very small percentage of my capital (entry was purple line number 1) with a close laying stop-loss (purple line with no entry red sign) as there is a good possibility that the price of LUV will decline further.
If it does so, then I will seek to make another small entry.
Let’s see how this plays out (my expect take profit level is the purple line with the green box and white tick).
Next Action
- Assess LUV on Monday when the market’s re-open.
- Watch Soloway on Monday for any new trading ideas and general trading education.
IVG (Involgize)