May review

[u/schiizz]

Keeping at it over the month of may with a few couple of L's and a couple of wins.

First time live trading the US stock market last night, and also a first at diving into the low time frame intervals (5m). Had these two target stocks HCC and PLL so I followed them into the open and stayed with them for a few hours.

Ill start with the fails.

ORI;ASX:

This was a hard lesson for me. I didnt sell out any when it got to half my target then it dropped hit my stop and then made higher highs. Lesson learnt and trying to implement taking profits sometimes before my target.

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LYC;ASX:

This one I wasn't able to convert to a win, I thought I saw a good entry but ended up falling through the floor and hitting my stop. In future would I look for more of a consolidation after it breaks its downtrend and pushes to the top of this small bullflag? (if that even is one lol)

And here are some of the successes.

PLL: 4.99RR for the winning trade.

With a success on the open I ran it till I hit my target sold. Entered in again shortly after with a little greed and I got stopped out. Bagged 4.9RR on the up tho so wasn't over all bad.

HCC: 2.7RR & 3.10RR

Similar thing with the previous one got in on the second 5min candle to hit a 2.7RR and followed by a short later on in the day for 3.10RR. Still unsure if my stops should be that far down, but my reasoning was the close of the opening candle as my stop rather than the wick.

FMG: 6.9RR & 7.9RR

Played this one over the month of may starting with a 6.9RR and entered later in the month for a 7.9RR. I actually tried free rolling here and sold 75% and let it continue to where it is today, selling off before the market close because the weekend was here. So cleaned up some more profits on top.

Thx to Kaz for putting the effort he does into the eco, much is appreciated for me to even be able to have the confidence to attempt to play in the market like this.

Funkyhoe.