Is that because you didn't follow your plan? If you knew it was a mistake, why did you wait to get out?
I got stopped out in 15 secs after I entered the trade. Here are few other filters that I will add to before I enter a trade. 1. I will only enter a trade if the price comes to my point in the next 3 bars after a new low is made. 2. If after we make a new low the next 30-min bar is strong (where it closes near the high of the previous bar), then I won't take the short signal and vice versa. All I'm looking for is 20 YM points a week for 3 months.
I never said it was easy. I just wanted to feel what it was like but not lose everything that I have. Everyone has to start somewhere and somehow.
Ok My point is just to say keep trying(preferbly papertrading) until you get the hang of it rather quitting after few shots.
Could not trade today because of IB margin requirement. There was a long signal after the 9.30 - 10 est bar. The buy limit price was 10938 and the stop would have been 10918. In the next bar price came down to 10933, so I would have been filled but IB did not take the order. After that the price never pulled back to the MA. I have noticed that at the begining of the trend and towards the end of the trend prices do not pullback much to the 13 ema. Not sure when IB will restore back the old margin.....hopefully by Friday.
It's not gonna happen. Open up an account here. Global Futures You will have much more room to work with an a far greater probability of ultimately succeeding. Good Luck