Yeah, actually that wasn’t a revenge trade, But that was a dumb trade that had -EV. Not a revenge trade because it was based on a break of a previous low (where I had my -5 long stop), but still within an uptrend (Counter trend). I didn’t went short because of anger, I took the LL as a sell signal (Weak) I waited for a “nice” stop/entry. The rational was there. I missed the +5 TP by 3/2pts. I am just dumb to short an uptrend. But still a revenge trade because I might not have taken it, hopefully, if I had not been shaken out. I better wait before to take stupid decisions.
It's not dumb. But it does depend on how the system defines a trend. And that it offers a signal that the trend is nearing a temporary end phase at least. Automation requires little discipline. Discipline is MANDATORY for manual trading.
"Stupid" decisions is very subjective. Imagine the market had dropped 20+ points as it did shortly after... Would it then had been a "smart" decision? The shorter your timeframe, the faster you have to make decisions. The more discretionary your system is, the harder it is to make decisions on the fly. Therefore, discretionary systems in very short time frames are always going to depend to some extent on your discretion (duh ), intuition, muscle memory, etc. Don't be too hard on yourself and just try to find some *objective* filter or adjustment that keeps you out of, let's say "suboptimal" trades. Just don't make such a long list of filters that you end up undertrading underleveraged (like a friend of a friend of mine ).
My personal bane... I have zero, nada, none, problem in taking a loss, when it's signaled. There is always another bus to catch. That same zero, nada, none signal is also appears with "sandwich" and "whipsaw" situations... I (sometimes) leave soooo much on the table!! I'm always looking for a difference filter. Admittedly, there are much worse problems to have, but for me, it's annoying AF!!
'the lesser seen ''cats ear'' ' Stepped away for a bit and just back at screens. Decent drop! Annoying that I was looking for shorts off the open which is unlike me! Just got in a bit too early and the strength that stopped me out had me changing gears. Still long from my latest ES entrance. Same position as before - long and losing but with a hell of a buffer to protect me unless things get absolutely insane! lol