OK, onto if we look at the 5min NQ chart, we can see a very good looking TS3 sell, that did start to decline nicely. However, it reversed and rallied, which was against our anticipation.... As the trade was so far into profit initially, stops should have been at break-even so at least this should have only been a break-even trade.
But then almost immediately we got another sell. But this one resulted in a 1-R loss. So, yes, overall this would have been a losing day.
Yes losses can and do happen, this is what I talk about with the Cyclical Nature of Trading, the good news is that soon the cycle will come round to some profitable trades. Our job is while we are in the losing part of the cycle is to keep the losses small...
Thanks, Steve
But then almost immediately we got another sell. But this one resulted in a 1-R loss. So, yes, overall this would have been a losing day.
Yes losses can and do happen, this is what I talk about with the Cyclical Nature of Trading, the good news is that soon the cycle will come round to some profitable trades. Our job is while we are in the losing part of the cycle is to keep the losses small...
Thanks, Steve
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