I haven't updated my journal so far this week, due to a lot of experimenting with pivot points. Ultimately, I decided they aren't a good way for me to trade, although I like them as indication of possible stalling/reversal areas. So I gave up on the idea of PP trading.
Also, I am ashamed to admit that I took 4 unacceptable trades this week. The type of trades "for the sake of trading". I was able to close 2 of 'em at breakeven before it got ugly, and lost 30 and 40 pips on the other ones. I hope I got this crap out of my system. But it had been a while since I did that, and hopefully it won't happen again.
So while it may seem dishonest on my behalf, I want to only keep track of the
proper trades here. The ones where there's a cross of one of my S&R lines. After all, as I develop more as a trader, those stupid trades won't happen again, or else I'm doomed.
So on with the trades:
On Monday morning, price crossed below a line I had set at 226.20. So I entered and got filled at 226.134. Price seemd to stall in the 225.90 area, so I decided to close my position there. That was a good decision on one hand, but a disapointing one as well. Price retraced a lot during the following few hours, but then while I was sleeping, dropped like a rock to the 224.50 area. Oh well, I like my small gains strategy, and won't change it. So enter at 226.134, out at 225.893.
Trade #6: +24.1 pips
Total for the week: +24.1 pips
Target for the week: 100.0 pips