That's right, I'm back in the swing of things.
My account balance yesterday hovered around $51,000--almost back to my starting value of $50,000.
Following the instructions of my drill seargent alter ego (see previous post), I didn't trade unless all the indicators met my criteria.
What did I wake up to find this morning? A $58,000+ balance. Woohoo!
I left the trade alone most of the day, but the price started stalling and I wasn't confident about which direction it would head next. I cashed in my $7,000+ gain and gladly waited until all my indicators lined up again.
I'm still waiting ... but I'm not as impatient as I once was. There's no sense of urgency anymore. I'm reconciled to the fact that I won't be the world's most successful forex trader. I'm not yet at the level where I can make money regardless of the market/indicator situation. And that's OK. It feels like a victory just staying on track.
There is some room for improvement though. Although I've resisted the urge to look at shorter time frames on my charts, I still need to work on putting my parachutes in place, especially overnight.
Looking at the 1-hour chart tonight, everything looks in place to put in a sell order, but I still need the RSI to lower beneath its previous low of 45 (by the way, I know I'm not explaining this part of the strategy well; I'll work on getting a specialized chart uploaded), and the price needs to drop below the last PSAR lower dot.
I'm getting tired though and I don't feel like waiting around for that to happen. Therefore, it looks like I won't be holding anything overnight.
I'll look forward to trading tomorrow though. I might even get up early.
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