Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
5-Oct-2012 : I realized latter , its not the case. Subconsciously i was still trading the plan...only difference was to choose what strategic action is best suited in that particular situation. Simply put Trading Plan includes different tactics/methodology depending on particular environment.
First trade didn't worked, though i perceived structure at A to be a final stop hunt over prior Lows. LTZ near 5740 had some significance in this context. Second trade turned better having better momentum on long side than first trade.
Harvest The Moon Nest The Market
Can you help answer these questions from other members on NexusFi?
I had correct initiation of startup trade....but following structure on short time trame , i got distracted a little. That lead me to took a scratch long. All this pile-up on my original motive of following the trend and made me little paralyze even after seeing continuous weakness further. But it was good that i didn't tried further long with revenge intention common to occur in this feel of missing out my correct trade. Though nett i still made good profit....but i surely didnt took correct decision.
08-Oct-2012 : With good short in hand, i was greedy and lazy to book it early. There was no confusion at the opening where its headed. Though normally i have been very quick to exit...and location A would have been my favorite exit if i had not be little lazy. A and B eluded my vision. I felt i am risking against yday low and important LTZ and now its potential case of double bottom. All this made me totally reversed my position. I do not wanted to wait for long as i was perceiving its already late to get in - mistake of being impatience. But result of this was also so obvious.
But now real mistake on context i made next. C was a development discarding A and B and it was critical time consumption in lower 2nd SD. If it had to bounce it must have gone fast just after breaking double bottom. Neither it came above VWAP nor very good creek jump. But till then i had already lost battle mentally.
Long was low risk...but i made mistake of probability assessment of its success. I will try some statistical study to avoid this in future.