Many lessons to be learned from my trades today. This was the first day of 2025 where I had the time to sit down and trade. I was over excited about this window of opportunity but it resulted in a number of mistakes. The main error overall was over-trading.
Losing trade 1
Price was facing resistance immediately below the 200 period simple moving average ('200 SMA'). My overall bias on the FTSE is bullish. I therefore waited for a close of price action above both the resistance level, as marked on the chart and the 200 SMA.
Small topside wick on the close of the candle that I used as the basis for entry. Price did move to the upside but, as evident on the chart the price started reversing and ultimately I was stopped out on the trade for a loss of £54. Loss disclosed below:
Losing trade 2
Technically this was a good trade set up. Both the 20 SMA and 200 SMA were in a narrow state. A large elephant bar was printed to close above the 200 SMA. Not only that, this candle completely engulfed the prior bearish elephant bar, which signalled strength.
The entry was correct but I did completely screw up my position size and after entering the trade I had to adjust my stop loss to the bottom of the entry candle and I had miscalculated. Half of the problem is with the platform I use. Capital.com is okay in the sense that you don't pay any entry and exit commissions. However, you pay it through a really unattractive spread. I must look at how to adjust my trading to adjust for these spreads if continuing to use this platform for equities trading. Loss disclosed below:
Losing trade 3
Still damaged from the larger losing trade made on the market open. The trading demons were trying to convince me that a reversal was staring me in the face. It wasn't and this was a fumbled attempt at a trade. I didn't follow the rules. No point in going into any more details. Loss disclosed below:
Losing trade 4
This Apple trade was just a poor attempt at trying to chase the losses of the day. A 1 minute entry on a Heikin Ashi strategy. I will not elaborate as there is very little technical merit to this trade. Loss disclosed below:
Trade Clearly!
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