End of day trading review 11 03 2022
NCM was held over night and not managed well after it was left wide open following the gap up and sell off, and eventually closed out at 26.77 after my gold thesis was proven incorrect. Price was holding but the gold price was looking like it was rolling over and just not making sense so played it safe closing out and coming into next week all flat. FMG long in at 18.59 with the stop taken out at 18.53 this was the low of day at the time of entry, IO price still choppy and didn't have another go on this one with direction unclear. WPL was a long from 31.53 out at 31.68 closed quickly as oil price was not moving higher and with resistance coming up in the 31.70's. Price went for a run after and didn't chase keeping the focus on preserving capital and ending the week up 10.R and finding myself getting back on track after a challenging start to the year.
Key points that have helped:
Sizing down.
Being picky.
Closing out losers quickly.
Exercise before the trading day.
Being humble and getting a second stream of income.
Daily total = 3.1R
Weekly total = 10.7R
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