Method is calling the entries in the downtrend perfectly Just got to avoid the initial trend changing melt down in future. If I was still long I'd be -2.5K here area, that's just NUTS in no time at all!! It can't happen again, next time maybe not so lucky
Well interesting day, chart attached is roughly where I got in on my nearly killed trade, then highlighting the positions I should of been taking. I run 2 positions, so if I'm a tad to early I'll get a 2nd and won't worry about it too much. SL would of been the other side of the 100ema the big white line.
The 5 lines on the left, the X was where I got out. the ? is a trade I might not of taken. It got to BE once before, hesisated and slipped away, I nearly closed for -30 and -40 area, as I feared a lower low, but it gave me a break. 100% LUCK!!
5 times and Yes!! BAD TRADE!!! hence kicking my ass, need to not do that stuff, too damn risky, got away with it today, next time 3K loss EASY!!
Ok now I understand!! doubling down can be dangerous but you survived this time cat with 5 lives! (five trades down - hence the 5.........
3 made a profit, hence out +17 2 lost but not that bad. DAX and YM where both wild rides all day, 1 more break out of the range aswell to the upside that would cost me no doubt.
Haven't made the above screw up in 6months+ guess what, next trade UK100 broke down on me and did it again, holding on too tight and not wanting to take a loss or what!! Think joining ET has lowered my IQ by 2 points, so I have an IQ of 1 currently. Got out at BE first chance I had, well it was +10ticks but alas it slipped on me
Tired, don't want to waste a day, but don't want to put a dent in my pretty all time high account ( that might be the issue LOL ), so taking a day off. Adapting to the stress's of nearly full time day trading, might take some adjustment! Covered a weeks wages in only 1 1/2 days of poor trading so lets not stress myself out to much.