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> Break-Out Bar Trades - that go bad ...


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> Break-Out Bar Trades - that go bad ...

  #1 (permalink)
 
Trader8s's Avatar
 Trader8s 
fort lauderdale
 
Experience: Intermediate
Platform: NJ
Trading: futures
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How many traders have gotten TRAPPED in fast break-out bars, that look to good to resist - - you go in at market -
to find yourself in a loosing position and Expecting it to move back to break-even to get out?




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  #3 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
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0bl1vion's Avatar
 0bl1vion 
Toronto, Canada
 
Experience: Beginner
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Been there, done that.

When I first started out with forex several years back this would be a major psychological issue for me...

I would often "revenge trade" in a market that is clearly moving against my bias.

I learned to avoid this by forcing myself to stay on the sidelines during directionless sessions and trading only with the trend when there is direction.

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  #5 (permalink)
 
Trader8s's Avatar
 Trader8s 
fort lauderdale
 
Experience: Intermediate
Platform: NJ
Trading: futures
Posts: 7 since Oct 2012
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Here 0bl1vion called it in his post above - Print This Out - and post it on the wall =

"Stay on the sidelines during directionless sessions .. and trade only with the trend when there is direction"

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Last Updated on November 23, 2012


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