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Vovan, please don't beat yourself up...actually this day is a very good day. Allow me to explain. You've been just one ball of emotions trading throughout the day...until your last trade.
Your technical analysis was spot on, "downward wedge" breaks up. Once the price action broke to the upside and you took the trade. Your decision was correct. Your entry was practically a perfect entry.
If you want to know, your subconscious took over this trade...you needed to be emotionless or at least less emotional. So you had one eye on a book and another eye on the market. Come on, do you expect the get 5 pts initially in 2 seconds ... you did the right thing giving the market TIME to move...5 to 6 pts.
You ended the day with an OUTSTANDING Trade. And that's the type of trader you are...not the other previous trades with anger involved....ask yourself, where you emotionally angry in your last trade? I don't really think so.
Try trading your indicators...that's why you have them...don't try to out guess them and you'll be surprised with the outcome...remember, you didn't out guess the downward wedge...you waited until it told you what to do.
Just my 2 cents...I know, it's not worth much as the dollar plunges.
"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
I tried to trade using just Price Action without any indicators.
I had two trades today before news came out and I'm gonna stop for today.
My entries probably don't make any sense at 144 chart because I've been using 440 for entries.
Here is result:
I had chance to get 5 ticks more at the first trade and another 1 point on the second one but I was hopping that it's gonna break high/low but it didn't and it hit my stop in both cases. I had a long entry for third trade but I was short at that time and all I could think about was to go lower.
Over all I'm happy with those trades. It was quick and profitable.
Yesterday I tried to trade price action also but I didn't have rules setup for entries and I used 144 for entries. I would keep taking trades with 5 ticks loss in the area until it works. Of course it didn't work because I had about 5 loosing trades before it goes in my direction. So here is result.
I ended up with -7.8 but what was positive in my trading that I still could find some good areas and from -17.9 I got back 10.1. I think that was hard do not make money yesterday from that 20 point run down.
Good trading today. Tough chopped up day for a bit, but you did pretty good.
How are you figuring your PT's, just a pullback with trend break right?
I should have taken a break today. I would have taken one of those shorts.. My own fault, but I am getting better at the possibility of taking one of those at least!
If you mean PT's "profit targets" it's should be at next major S/R level but I didn't have any so I tried to use fibs.
If you asked about entries then I just wait for weakness on the pullback and get in with the trend, because it was very nice and strong down trend.
I could menage some of my losers to BE or +1, but it's hard for me to make that step because I think it might work out. I know that as soon I start hoping it doesn't work and stop me out.