Would you stay in your fist little bit longer it would be another day with one trade and done for today.
I've made the same mistake, and got out too early. I thought that we had a new low forming but it took me out at the same bar. This is the same mistake I've made yesterday. I should not move my stop loss to the new pivot before it brakes higher high/lower low. I just always afraid that it's gonna go back and I'll be out at BE or +1 instead of 2-3 points. Another thing I think we should learn how to lock some profit when we know for sure it's not gonna go for our favor. Like sometimes it goes for 1-1.5 or even 2 points but then I see that it cannot brake through some s/r, but I still wait till it takes me out when I could lock at least 1 point or so. Even if it's 5 ticks it's gonna make up for one loss.
Well, the strategy on 3 contracts is different then 1 for sure. I think 1 is sometimes easier and 3 is sometimes easier and it depends on the day I guess.
I think trading 1 contract is hard because like you said, I like to exit at the S/R point to lock in some profit, but maybe that is too much 'hunger' and 'fear'. The key for me is to define and understand a long term vision and make sure I get in on that trend.
I think my days of taking pivots are numbered. I think I will be a pullback trader as it just makes so much more sense with a cleaner picture. Rarely does it just run away after it hits an area, so waiting for that pullback would be no worse then jumping in on the pivot trade 'on the edge' as Henry would call it.
Or, maybe I am just not mentally rich enough yet to make it happen.
I wonder sometimes how the group is doing and what they are doing! I wish everyone could journal and let it out and then we would all learn. What I found w/ the group is people not wanting to release their bad days and hide their mistakes. I wonder if there are people who are super profitable consistently that still do that?
Someday I will look back on this journal and it will be a log for struggling traders to say, "See, this guy punished himself for so long open and honestly and he did it!" --- But not if I don't get to trading the guidelines properly.
That's a good point about 'hunger' and 'fear'. I'm looking for a bigger runs also but sometimes I see that it's not gonna go there after I entered but I still wait for my stop to get hit.
About the entries at pull back. It solved my problem of getting in on every pivot and then reenter at the pull back.
I'm not scared to show my mistakes to the public for two reasons:
1. I keep a journal for myself and if I hide something I hide it from myself first.
2. If someone see my mistake they might can void them or give me an advise about solving the problem (this doesn't work so far because I don't get a lot of comments on my trades)
The following user says Thank You to vovan348 for this post:
Your third trade was what I'm looking for. I don't use trend lines a lot, I just wait for price get to the area and then pull back from 23% or 38% to the deep or 50%. When I go for reversal I want to see that price fail to make new high/low so it pivots lower/higher with divergence. But if it's a strong trend like we saw on Tuesday that divergence can be broken. That's why it was so hard for me to trade.
Another thing. I think that divergence that not at the area doesn't mean anything. That thought can help to avoid early exits.
Good job! Stay in green!!!
The following user says Thank You to vovan348 for this post:
I was thinking short, but boy it was long. Nice 12 
haha....
