Monday, May 5, 2014

05/05/2014,MONDAY


1) Opened below PDL/PDC.  Resultant BOF was a very good signal. Price climbed up without giving any swing pivot for entry. Bit difficult to trade this signal.

2) Kept a Long order for the next BOF of PDL. Got confused and cancelled the order just before it got filled.

3) When price encountered IRH, kept a buy order before the completion of formation of swing pivot. Had to scratch this trade for a loss of  4  points. Focus must improve.

4) Took the BOF of PDH trade. Exited in a hurry. As the price encountered RH, moved the SL to BO candle high and got stopped out for a loss of 1 point. Learnt an important lesson - Never trail at the BO candle low/high, when price encounters RH/RL. Follow this procedure only when the price encounters these important DPs, namely PDH, PDL, and BRN.

Another mistake was - forgot to keep a fresh entry order below B/O candle low.  

Tomorrow is another day.  

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