First trade was following the SR (support and resistance) the price touched the top of the channel and I got short taking my 10 ticks.
Second trade, the same concept but I got in a little late as the price flew up in such a short time and I got 1 tick shy and lost 10 ticks leaving me flat for the day.
I made the same mistake than yesterday. I let a winner turned into a loser just because I wanted to stick to my guns. My thought was "if I am willing to lose 10 ticks why should I pull my trade out? it could have turned around giving me the 10 ticks I wanted" the truth is: the premise of my trade was over when the price moved out of the channel. That was the indication I should pull my trade out, not fear.
Pulling out trade out of fear is different.
Lesson of the day "premise over=trade out"

No comments:

Post a Comment