Hit stop-loss:
Eight MHGK5 contracts sold at a price of 5.052.
Initially, I was expectant of this copper trade, adding to my position as the price climbed higher. But it went too far, too fast. The price hit an intraday high of 5.374 on March 26, before descending promptly. I was stopped out.
My dream of a monster trend did not materialize.
Checklist:
Was it a planned trade? Yes.
Did I stick by my rules? Yes.
Am I back to a calm state? Yes.
Mind reset… Done. On to the next trade.
TMT
Position add:
Two MHGK5 contracts bought at a price of 5.3015.
SL = 5.0535
Total MHGK5 position is now long 8 contracts.
Stop-Loss for the entire position is now at 5.0535.
TMT
Position add:
Two MHGK5 contracts bought at a price of 5.17725.
SL = 4.9210
Total MHGK5 position is now long 6 contracts.
Stop-Loss for the entire position is now at 4.9210.
TMT
Position add:
Two MHGK5 contracts bought at a price of 5.0485.
SL = 4.7765
Total MHGK5 position is now long 4 contracts.
Stop-Loss for the entire position is now at 4.7765.
TMT
New trade:
Two MHGK5 contracts bought at a price of 4.9065.
SL = 4.6255
Total MHGK5 position is now long 2 contracts.
Stop-Loss for the entire position is now at 4.6255.
TMT
Hit stop-loss:
Seven MHGH5 contracts sold at a price of 4.5965.
It is sad that this trade did not perform as expected. I was scaling into a profitable trend when the market suddenly reversed direction. Nonetheless, one good thing that came out of this trade was that I was able to examine and finetune my trade entry process.
Checklist:
Was it a planned trade? Yes.
Did I stick by my rules? Yes.
Am I back to a calm state? Yes.
Mind reset… Done. On to the next trade.
TMT
Position add:
Two MHGH5 contracts bought at a price of 4.8255.
SL = 4.5975
Total MHGH5 position is now long 7 contracts.
Stop-Loss for the entire position is now at 4.5975.
TMT
Position add:
Two MHGH5 contracts bought at a price of 4.7115.
SL = 4.4945
Total MHGH5 position is now long 5 contracts.
Stop-Loss for the entire position is now at 4.4945.
TMT
New trade:
Three MHGH5 contracts bought at a price of 4.6085.
SL = 4.4145
Total MHGH5 position is now long 3 contracts.
Stop-Loss for the entire position is now at 4.4145.
TMT
The Mechanical Trader 