5 trades and you lost 2.50 points!! I made 2 trades against the trend, just for fun in the last 15 minutes... and made +7 points. I don't even trade futures that often ( I trade options); but seems fairly easy to turn a profit. do you not know how to read a chart ?? Is your size too large for these markets?!
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Yeah it does seem easy. Feel free to read my journal for a history of the mistakes i've made. By mental i knew i should have held but figured i'd lock profits (for ego) as i can always re-enter. Except i'm lousy at re-entering on strong trends. I'm working on both problems. chart attached for your amusement
Why on earth would you close at the point shown on your chart. What happened to patience? There were lower lows that continued fairly consistently for multiple bars to 2306-2310, when we saw a reversal pattern.Further as you noted the double top did not actually become a "double top" until the prices broke the lower price, and failed a re-test. You exited it just as the DT was being confirmed. Classic T/A You exited on an "inside bar." Unless later bar make a higher high the inside bar was resolved in the direction of the downtrend (in this case.) How many contracts did you have?? I don't trade futures lately but if I decide on a whim to trade the NQ, which I plan on doing beginning Monday, since we have so many large moves, gaps and decent vola. I look for 4-8 points minimum, hopefully more. If I can hold all day I would. That will be my plan. Don't like to get shaken out unless I see a reversal in trend. From what I have seen lately, there has been a lot of opportunities to hold NQ all day, and exit near the close. Today was an example where one could have held a short all day with limited risk.
Exactly, why would i exit ? Welcome to my trading world. I take entries off the 1 minute, possibly getting shaken out from that. Over analyzing, unclear exit strategy, psych issues. Not a money issue, only 1 car. Trying too hard to make perfect trades ? I'll sleep better when i can make it over this hurdle. Believe it or not i'm getting closer. Good point on the inside bar. look forward to seeing you post some trades next week. good trading to you !