• 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

SIMSCI Trade recap 11-JUL-2006

by Gav Leave a Comment

[photopress:SIMSCI_10min_review.JPG,full,pp_image]
After reading the chart retrospectively, mistakes were found. Mistakes were found in the second trade. While for first trade, false breakout is expected portion of breakout trading.

In the second trade, stop loss calculation was wrong, instead of 289.5, correct stop loss level should be at 289.7, if short entry was at 288.9. This is merely a chart reading mistake.

Another mistake was found at entry level. Since day low/high serves as support/resistance level most of time, short position should be place below day low which was 288.7, instead of 288.9. I was too eager to establish short position.

Filed Under: Rant Tagged With: SIMSCI

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Your email address will not be published.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