Make the system give you precise entry numbers. the discretion will be out of your hands. You'll either trade the system or you won't.
I guess I wasn't clear enough on that point. I have no problem with taking trades, my problem is letting them playout. I am quick to take a loss, but equally quick to take a profit. Thus this "public" exercise. As for the possible trades this morning - it's just one of those things. Sure I wish that I had been wild and foolish - but I did what I thought was right - right for me. No regrets. I did it my way.
I know what you are saying, and don't argue with it. But for me this is more of a method, or style than a system. I am not displeased. Sure, it would have been nice to take the AM trades, but it goes against everything that I know. From my observations, the chances of a follow through on an open like that are not that good. You win some, and you lose some
Hmmmm...O.K., this is getting kind of embarrassing. There was yet another bull flag at 1:52 @813. Again I passed because it just didnât look that strong, and came just after testing the high of the day. It ran for 3+ points without me. Oh FUDGE! Still another bull flag at 2:11 @816.5 I took this one, and was stopped out for a 2 ½ point loss. What can I say?
What can I say? The very hardest thing about having a system is following it. You have to trade it without letting your own bias get in the way, or you might as well not trade it at all. Brandon
Took a bear flag at 2:46 @811.5 Stopped out for a 3 point loss. Now this one troubles me. Why? Well it was pushing â in fact it went against my âbetter judgmentâ. A clear trend in the one-minute chart, but no real trend in the 5 or the 15. In other words congestion, chop, or what ever you want to call it. Geesh...and itâs my birthday.
Technically a bull flag at 3:04 â but it failed to retrace back to the 20EMA. So no trade. Will I take the next set up? No. Why not? Tick readings of +1200, and prices near the 60 minute 20EMA. Am I a happy camper? Yes and no. The first trade (a 2 ½ point loss) was played properly â hey, they donât all work. The second trade ( a 3 point loss) was more of a trading on hope situation. I pushed my luck, and got my hand slapped. So whatâs the bottom line here? Well, I basically did what I wanted to do, and that is give the trade the time it needs without second guessing it. BTW â the trade that I announced that I would not take finally set up at 3:16, and would have worked.- - but it was risky. So Iâm not sure what the real bottom line is â I have to think about this.