OK, now onto to some losses and harder decisions. (As I know how much you all like talking about loses :-) )
Yes, there was a TS3 sell on the 3min NQ as the markets rallied off the lows, and yes that was a valid trade and yes was a valid -1R loss. As we all know losses are OK as long as they are kept small. But the trades I wish to focus on are the buy later in the day..
As you can see, the rally on the NQ reached DP resistance, so bearing that in mind you should have been cautious about any buys later in the day, as the new trend was now down. So, even if you took these you should have been cautious and got your stop to break-even very quickly.
Thanks
Steve
Yes, there was a TS3 sell on the 3min NQ as the markets rallied off the lows, and yes that was a valid trade and yes was a valid -1R loss. As we all know losses are OK as long as they are kept small. But the trades I wish to focus on are the buy later in the day..
As you can see, the rally on the NQ reached DP resistance, so bearing that in mind you should have been cautious about any buys later in the day, as the new trend was now down. So, even if you took these you should have been cautious and got your stop to break-even very quickly.
Thanks
Steve
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