Disciplined

Opening balance £1105

Closing balance £1145

Today's profit £40

I enjoyed today as I spent the majority of the day as an observer, making calls in my head and watching the results play out.

My winnings were the result of a 3 point scalp around 8.15 at £20 a point.

My calls were good, I would have made a lot of money but the damage from last week is still with me, that's a good thing as it makes me ultra defensive.

A couple of points to note. I'm using EMA's to good effect along with support/resistance and trend lines, most important though is my reading of candles. When used in conjunction with the above it's a powerful combination.

Of course I would have liked to have earned more and that will come as my confidence grows. I did make a great call right at the end of play, we had support at 5587 and after observing a small zig zag pattern between 5591-5598 I went long at 5593. Of course the index immediately moved south to test the support (and my nerve) at 5587 and after 5 minutes of shall we say a heightened heart rate it began to climb quickly. At 5592, a point short of my entry level I could wait no longer, a combination of having to pick up my son and also damage limitation, having been 5 points adrift I was grateful for damage limitation. I closed my position for a one point loss.

I will develop more confidence to hold a trade as I develop.

Five minutes later while checking the index from my car on my iphone I see it had soared to 5606, I would have made 13 points had I been in front of my screen.

So, my calls are getting better and I've only made 4 trades in 2 days, I'm able to sit and observe without feeling anxious to trade.

And that's a good thing and will serve me well going forward.

I will observe tomorrow morning, I'm not planning on trading unless a really good opportunity presents itself. Honing my skills by making calls based on live price action is a great way of testing my methods.

More tomorrow.