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What had I done wrong

by Gav Leave a Comment

I reviewed my trade, and found a mistake that I have made. Basically, I have ignored my own trend evaluation system as I have mentioned in my earlier post “Defining a trend“. So this post just serves as a note to myself.

Looking at longer time frame of NQ futures (I call it trend chart) where I evaluate a trend. It is obvious uptrend was getting weaker and it was trying to test resistance in the Friday morning. The best decision would have been staying away and wait for the resistance to be broken or a reversal to kick in.

nq45min1.PNG

So, the dumb trader like me, went long in shorter time frame (I call this Trade Chart) when a Long dummy setup appeared. I was well deserved to be stopped out. Another weakness of impatient and being ignorant.nq200ticmistake1.PNG

Not only I’ve made a mistake by going to the wrong direction. Around 11am of Friday, there was a short call shouting at me. And yet, I was too caught up with the loss, and did not bother to look at trend chart again. So, opportunity again flied.

Well, there is always a reason behind a losing trade. It is more than “I am just unlucky”.

Take note.

Filed Under: Trading Journal Tagged With: Strategy & tools

Reader Interactions

Comments

  1. Joao Henrique says

    at 11:06 am

    Gav,

    There is always a good thing about mistakes: “You can learn from It!”. Just keep on going. This is part of the game ๐Ÿ™‚

    Best Regards,

    Joao Henrique.

    Reply
  2. Joao Henrique says

    at 6:06 am

    Gav,

    There is always a good thing about mistakes: “You can learn from It!”. Just keep on going. This is part of the game ๐Ÿ™‚

    Best Regards,

    Joao Henrique.

    Reply
  3. Gav says

    at 11:23 am

    Joao,
    Thanks! Yeah, that’s part of the game, and I’m enjoying the game ๐Ÿ™‚

    Have a great weekend.

    Reply
  4. Gav says

    at 6:23 am

    Joao,
    Thanks! Yeah, that’s part of the game, and I’m enjoying the game ๐Ÿ™‚

    Have a great weekend.

    Reply

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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.

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