Posted by anjali25 on 12th of Aug 2022 at 03:27 pm
Yes Steve - 2 fatal mistakes here decimating a lot of my profits
from the move up in July - gap up from 4127 and then shorting
yesterday up to at 4250 but not taking profit at 4203 - so went
short correctly but turned into loss as not taking
profits
Work full time so tough to see the mkt all day - but would be
really valuable if you could also cover in the weekend newsletter
on how to trade channel for turns and interim moves - what to watch
for
also besides a stop, that's why I think the systems are a good
way to hedge one's subjective trading. If you are following the
systems trades you would have been long from basically 3800 nearly
500 points, with a few shorts in between that move that were
winners in the uptrend as well, which could have helped to mitigate
some of your subjective trades
Posted by anjali25 on 12th of Aug 2022 at 04:17 pm
Am a newer trader - made massive losses in 2009 and just got out
completely for 10 years … then started stepping back in a
year or so ago - made losses with gurus before I found you guys
about 3 months ago
my biggest issues is stops - when I see the position turn
against then hope comes I’m ie when in profit at4203 yesterday and
the gap up today and small pullback to 4228 so added more short
saying maybe it will turn - thus turning big Loss into bigger
losses
Am currently 90% short starting from 4125 to 4280 now and it’s
hurting … and taking away the profits from last 2 months
Taking away some lessons from last 2-3 days
- Trade mostly with trend
- For counter trend or looking for a turn go much smaller -
follow the channel concept from steve
- stops use the levels posted if one breaks then exit no matter
what
Yes Steve - 2 fatal
Completely roasted on all the short I am holding as ...
Posted by anjali25 on 12th of Aug 2022 at 03:27 pm
Yes Steve - 2 fatal mistakes here decimating a lot of my profits from the move up in July - gap up from 4127 and then shorting yesterday up to at 4250 but not taking profit at 4203 - so went short correctly but turned into loss as not taking profits
Work full time so tough to see the mkt all day - but would be really valuable if you could also cover in the weekend newsletter on how to trade channel for turns and interim moves - what to watch for
will be reading your channel notes again tonight
Nope I'm out this weekend
Posted by steve on 12th of Aug 2022 at 03:29 pm
Nope I'm out this weekend - just read all my posts step by step. Lastly, where was your STOP?
also besides a stop, that's
Posted by matt on 12th of Aug 2022 at 03:49 pm
also besides a stop, that's why I think the systems are a good way to hedge one's subjective trading. If you are following the systems trades you would have been long from basically 3800 nearly 500 points, with a few shorts in between that move that were winners in the uptrend as well, which could have helped to mitigate some of your subjective trades
Am a newer trader -
Posted by anjali25 on 12th of Aug 2022 at 04:17 pm
Am a newer trader - made massive losses in 2009 and just got out completely for 10 years … then started stepping back in a year or so ago - made losses with gurus before I found you guys about 3 months ago
my biggest issues is stops - when I see the position turn against then hope comes I’m ie when in profit at4203 yesterday and the gap up today and small pullback to 4228 so added more short saying maybe it will turn - thus turning big Loss into bigger losses
Am currently 90% short starting from 4125 to 4280 now and it’s hurting … and taking away the profits from last 2 months
Taking away some lessons from last 2-3 days
- Trade mostly with trend
- For counter trend or looking for a turn go much smaller - follow the channel concept from steve
- stops use the levels posted if one breaks then exit no matter what
Any other ? Appreciate the advice from the forum here … you guys and gals are amazing 🤩