DOW scalp trade for a few points
I thought I’d have another go at the DOW today since my forex trading yielded a -20 result. I needed to find a way to top up my account!
The Dow was moving lower and you can see the resistance line I drew in. The market was bouncing to this line before heading lower. However, at the blue arrow, the market broke the resistance line and I was looking at a possible long entry at 10532. Luckily for me this did happen as the market tanked. I wasn’t flexible enough to short at this stage here so I watched it go lower, below the low of the day and then some more. I finally went short at the main pivot point and snatched 12 points.
I’m still 8 points down for the day but hey, it was better than before!! What I’ve learnt about trading is that you can’t be too hung up with losses. Yes, they are annoying when you have made a mistake or not followed the system but we are human… unfortunately, us humans are flawed and we don’t always do the right things especially when it comes to trading. A successful trader actually has to suppress his or her natural urges towards becoming a winning trader…
