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Been trying my hand on the daily chart in my spare time. This chart shows what my thinking has been. I have been short for a while now but I acknowledge I might be wrong. I've seen this bull flag developing now for several days and of course this could mean a nasty break to the upside against my short position. Keep in mind, this is just an exercise and not actual trades. Still, I like to be right.....
My original short position was in the money for quite a while, the two subsequent adds to that position are underwater and dangerously close to a stop out.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
For example, did you know that if a panda gets struck by lightning, its black hair turns white and its white hair black? A spread from the book shown above reveals this affliction. These bears are known to pandologists as negative pandas.
You can discover what your enemy fears most by observing the means he uses to frighten you.
I didnt really trust anything today due to the price action. But I was really patient and took the ones I thought would work.
Mistake one was the first trade. Didnt wait for it to touch the MA
#2 was being greedy on trade two. It went ten and I wanted more
#3 was moving my stop to BE to fast on trade 4
#4 moving my stop to soon on the last trade.
Pink boxes are trades I saw in real time and passed on for some reason
Red circles are trend reversals I saw in real time and passed on.....
Profitable day to be sure and I am grateful but I executed very poorly today.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Yes, I too wonder the value of this, but surely there must be some. I think due to confidence, probably not thinking about it would be the best, but to have it sink into your brain to let it go would also increase your confidence if you were right like PW was today. I wonder...
I think due to confidence, probably not thinking about it would be the best, but to have it sink into your brain to let it go would also increase your confidence if you were right like PW was today. I wonder...
