Trading Watchlist:
1. SOLUSDT
Start scaling into a SOLUSDT long position immediately, and also use a limit order to capture any further downside.
2. BTC.D
As can be seen above, BTC.D percentage has continued to decline, and this has coincided with SOL and THETA rising in price.
I now expect BTC.D to continue declining beyond its parallel channel, which (in theory) should result in further upside for SOL and THETA.
In spite of this, I have decided to trade SOL instead of THETA because it has a more convincing price action pattern that suggests it is more likely to rally if BTC.D continues to drop.
Backtesting SOL, moreover, revealed that it is more likely to move upwards at a greater percentage gain than THETA.
3. SOXX – analysed.
4. QQQ – analysed.
5. RUT – analysed.
6. SPY – analysed.
7. UVXY – analysed.
8. US10Y – analysed.
9. TLT
Use limit orders (x2) to start scaling into a TLT long dependent upon the price action continuing to decline to the upcoming major support level.
10. TIGR – analysed.
11. BIDU – analysed.
12. AMD
Take 50% profit out of AMD long trade, as soon as possible, becaue it has reached my take profit level area.
13. DG – analysed.
14. XAUUSD
Closely monitor XAUUSD. If the price action of gold declines to the top of the parallel channel, then consider taking profits out of GFI trade immediately.
15. GFI – analysed.
16. NATGAS – analysed.
Learning Point
- I re-acknowledged today that I only have to carry out one trade, with detail analysis, everyday in order to continue accelerating my trading knowledge and experience.
It is extremely important to remember this so that I do not, unproductively, exhaust all of my mental bandwidth each whilst trading.
. - I re-acknowledged today the importance of carrying out my trades emotionlessly by making sure that I always have a stop-loss in place that will result in only a small loss if the entry is wrong.
Essentially, my daily trading practice is all about me getting to the point where I carry out this type of action automatically without even realising what I am doing exactly (unconscious competence).
Next Action
- Start scaling into a SOL long position as soon as possible.
- Using a limit order, start scaling into an additional SOL long position.
- Check the price action of SOL every 4 hours.
- Use limit orders (x2) to start scaling into a TLT long position.
- Take 50% profit out of AMD long trade as soon as possible.
- Closely monitor XAUUSD today, every hour.
