I'm babyraging over this stupid market

Discussion in 'Trading' started by heavenskrow, Jul 10, 2018 at 7:46 PM.

  1. I short at red arrow marked by white line. MY setup and edge was telling me good risk/reward so I short there. Price action soon started to confirm my trade, and got a few ticks in my general direction before it bottomed for the session and rallied with rest of American indexes.... Then it rallied all the way back to my entry, so I took a scratch.. and the session closed....
    [​IMG]
    As I get ready to trade Asia, I notice my entry was gold...and instead babyraging how retarded the market is.... Why did it rally all the way back to the same exact entry level, and then SELLOFF. If the market respected a certain area, why would it need to retest twice before making a move.

    I'm just sooo upset I had a good trade in entry and follow through, until of course the idiot market came back all the way back to the same exact entry level, before making its move...
     
  2. Tariff News after hours
     
  3. i dont believe it sold off due to "news" , someone already knew it beforehand and hence market respected that level grr....
     
  4. vanzandt

    vanzandt

    Thats why I closed everything today in my paper journal except the VMC puts.
    Timing's everything. :sneaky:
     
    JesseJamesFinn1 likes this.
  5. go eat a dick mr market [​IMG]
     


  6. Smart move because the only stocks having any kind of follow through are small and midcap Oil and Gas along with some gold. This Market feels like 2001-2002's massive chop, anyone remember getting stopped in and out or losing gains because these spikes disappear while bids dry up quickly.
     
    Stocktracker and vanzandt like this.
  7. fan27

    fan27

    What is your exit criteria? Was it met and that is why you exited the trade?
     

  8. well i have this rule called, once the market goes in my favor but then comes back, exit at break even or cover 50% of your profits before goes all the way to 0 or negative....
    This trade even though entry was gold, turned out to be a scratch because it never moved as I anticipated it will. Hence I didnt even get to perserve profit because it barely meet my minimum target/profit level...

    It just went all the way back to my entry. Then AFTER HOURS, it sells off hard due to "news" which I call bullshit, market had probabilities in play to see some selling.
     
  9. and this is bullshit because I'm obviously not gonna chase NOW. to get short. I had the trade, with an amazing entry.... but market decided to retrace 100% of its move before starting the big sell after hours.
     

  10. Similar to Belgium vs Japan game in the world cup, being up 2-0.... a hard lesson is when ur up never let that 2-0 becomes 2-3.
    THAT is why I exited... And if it comes back 100% of a particular "Key" level, it usually goes beyond that level....99% of the time. This 1% it tested same level twice before selling off after hours due to "news" LAUGHABLE