• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

  • Home
  • Start Here
    • Back to Basics of Trading
    • Resource For Traders – The Best Tools for Traders
    • Learn Trading Articles
    • Sierra Chart Resource
  • Blog
    • Blog Posts
    • Other learning resource
    • Dummy Collection
    • Harmonic setups
  • About Me

RE: TIMSCI 17-Jul-2006: Short trade closed

by Gav Leave a Comment

Short position of TIMSCI was established at 258.2. Initial stop was set at 259.8 which was subsequently triggered. One trade closed with -1.6 point loss which converted into -1.37R loss (uh! ugly). I should not have allowed the trade to be place since the initial risk was more than 1R. What was going on here? Second problem, I did not wait for lower high to form completely, the decision was made after looking at some candles (uh! stupid). This is a good but painful example to show how does a trade with correct setup, but wrong entry point can hurt my trading account. Ugly trade. Silly action.
In fact, there was another opportunity when a descending triangle was formed. I did not take the trade after making a -1.37R loss within a day. I decided to close the day with negative.
Chart will be posted later

Filed Under: Old blog archive

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Best Tools For Traders

My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

About Me

Footer

Recommend FX Charting

Recommended Training

FXSAnalytics

Copyright © 2023 · Affiliate Disclosure · Privacy