A Redemption Day: Learning from Past Mistakes and Riding the Waves
1/9/23 Trading is a continuous learning journey, marked by successes and setbacks. Today, I want to share my trading experience, a day of redemption following yesterday's challenges. I approached the market with a different mindset, emphasizing the value of Price Pressure Momentum (PPM) indicators and focusing on strategic entries. Let's dive into the details of how this shift in perspective led to a successful recovery. Overnight Price Action and Morning Strategy: As the London open saw a significant price drop, dragging prices down to the S2 level on the daily chart at 4770, I anticipated a backfill after the RTX day we experienced the day before. Instead of attempting to short the dips, I shifted my strategy to buying the dip back up to the 21ma and 10ma on the daily chart. Strategic Entry and Confidence in the Trade: Entering my first trade at 4773, right as prices broke through the 10ma on the 5-minute chart, I considered the PPM values. PPM 1 was breaking through both d...