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My premise was right on this trade but my target was all wrong. I waited for the EIA report to come out and waited for a reversal. Trade went 11 ticks and reversed on the S2 line. 10 ticks would have been the correct target. - 8 ticks.
Rough week. At this point I am not concerned about passing the combine. I am more concerned about why my trading went south. Is it because the market changed? Is it because I have changed? Did my trading change? Is it a combination of all the above? Not sure. Shutting down the charts and will be taking a couple of days off and will review this weekend with a objective mind.
Robert, very hard market for any type of break out trading - it triggers and falls back before going again. I only fight it by killing trades on very small profit within 5 seconds, otherwise most will reverse and lose. Just a market phase. Good time to develop a range-bound or reversal entry type. Keep on rolling it!
I had a death in the family over the weekend and will be attending the funeral on Monday so I will not be trading. My combine ends on Wednesday which means there is little chance to make up what I lost over the past two weeks. Obviously I did not get to do the in depth analysis this weekend as I had planned but did get a little bit done. Below is part of a post I started on Saturday but never got to post. There is more to add but I will do that at a later date.
I didnt realize it until I was looking at this chart, but I stopped my trading right after the trend line break of my equity curve. It was also a double top. Was it trader instinct or luck that told me to stop?