Swing Trade 251113 Update

R +4

Both my long EU and short UC swings hit their PTs last night.

Swing Trade Reversal

My last EU and UC swing trades have gone against me (stopped on one, nearly stopped on another).  This is entirely my fault, rather than waiting for a 2nd entry I rushed in, so getting my fingers burnt I entirely deserved ( I know better than this).  They have now set up my main swing setup (a XO/XD of the 21EMA) and as such I am exiting these trades and going the other way. The new trades follow...

I read a good quote the other day that I thought was very apt for this situation and actually for most of my trading to date... 

"You can't make the same mistake twice. The second time you make it, it's no longer a mistake. It's a choice."

I don't think I had really understood that saying "I made a mistake" is just an excuse for poor discipline if I've already made it before. Anyway I like it and am going to try and live by this for a while. No more "shouldn't , could have,  meant to, If I had".  I'm not going to try and do it right, I'm just going to get it right in the beginning!

201113 EU and UC swing trades

Saw this and had to have a go.  Both had broken a Maj TL.
EU then made a LL - LH and put in a 2 leg rally to the 21EMA (ripe for a short).
UC had made a HH - HL and made a 2 legged PB to the 21EMA (ripe for a long).

Not the best entry, entered on close rather than Hi /Lo but can't handle watching the D1 chart while day trading so the price I pay.  Going for 1:2 RRR give or take but will watch closely would be happy with 1:1.

Swing trade missed opportunities

This is a simple setup I have been using on the daily chart for the past six months or so. I find it works best on the EU and UC as they have a high negative correlation.  Unfortunately I was so preoccupied with my studying of intraday price action I missed them.  A fellow blogger alerted me to them as he uses a similar setup (http://longechoes-updownsideways.blogspot.co.uk/)

I buy when price closes above the 21EMA (short when it closes below it)

ISL:  low of confirmation (high if short)

IPT:  1:2

190913 Longterm Trade update

PL: +2% / £50.66  CAP: £2419.29

LT Trade: Buy when price closes above 21EMA (+2%)

Summary: In all honesty I'm on holiday and have just been checking in once a day for a couple of minutes (if that). Don't know the specifics of this trade I just took the trade signal entry and the FOMC did all the work, guess I could have been caught the other way ( but that's what my trailing stop is for). But I'll take any win.