Today I will create an unorthodox post.
I was hesitating to post today’s trades as I am definitely not proud of them. But it wouldn’t be honest to post only the good side of my trading, showing only perfect confluence and timing as if we were robots taking only great trades.
So far, I am profitable for the day but I am not happy about my performance. If your chart ever looks like the ones below, you are at least, not trading the edge taught by the guys from Blackbox.
It started well, with me managing risk in the first two trades, but I was blinsided by the initial move up at the beginning of the session, not noticing that it was an agressive trend that would last at least 4 hours. I was in buy mode the whole session, missing good opportunities to sell. Please see below 7 trades, split between the 5 and 15 minute charts:
What you saw above is a trader ignoring a clear trend in the market.
I had 7 buy trades in a market that was and (as of 11:52AM) still is plummetting.
I am +1.19R yet I know that it is not the way that will take me to consistent profit. Lesson learnt!
Hi Alex,
Getting locked into either buy or sell mode can result in missing decent trade setups. It’s a totally normal thing to happen and to go through so join the club 🙂
A profit is a profit BUT when you KNOW it’s the result of luck and not Being The Bear you don’t have that good feeling.
Thanks for your honesty, it will help others for sure and on our home page we state that we won’t “Sugar coat trading and make it sound easy” because its not. That’s why it’s correctly regarded as an elite skill.
The important thing is to journal and review trades, what worked?, what didn’t. Did you break your rules or would you take losing trades again?