Daily Recap: My Best Day Yet on the Live Account

Today marks a significant milestone in my trading journey—my best day so far on my live account. With patience and discipline, I secured wins on both of my trades, which not only added to my confidence but also brought my account balance above my starting point. I’m thrilled to no longer be in the red. I ended the day with a profit of $103.75, bringing my account balance up to $1,008.93. Let’s dive into the details of today’s trades.

First Trade: ALLG

I spotted a promising entry on ALLG as it began to ramp up. However, the candle just before my intended entry showed a topping tail, signaling potential resistance. Instead of entering immediately, I waited for the price to dip below my target entry point and then rebound, minimizing the risk of getting stopped out due to the higher sell-off volume. This careful decision paid off, and I entered the trade at $1.645 with a 7-cent stop loss at $1.58. The stock moved up swiftly, surpassing my 3:1 take profit target, and I exited at $1.92, securing a profit of $68.70.

Second Trade: RR

The next trade was on RR, which was trending upward but with slower volume. Despite this, I felt confident in a 2:1 risk-reward (RR) trade, especially since my target was just below the VWAP. I entered at $1.20 with a 5-cent stop loss at $1.15. The stock gradually climbed, allowing me to secure my 2:1 RR, and I exited at $1.30 for a profit of $34.93.

Reflection

Today, patience and adherence to my trading rules truly paid off. I made sure to select high-quality setups and confirm my entries on the 15-minute chart with a positive MACD on the 5-minute chart. Additionally, I practiced adjusting my stop loss more cautiously, ensuring I locked in profits while still giving the trades room to develop. I’m proud of the progress I made today and look forward to building on this momentum.