My Sugar trade crashed - it deserved to!
This is gambling. I look at a down-going trend line and see a price rise up through it and go long (place a buy trade). The price then reverses on me and crashes down again, plunging through my stop-loss. This is trying to pick the bottom and the top of a trend and mostly does not work.
You can see where I went long (left arrow), and where the trade hit my stop (right arrow). This trade lost £503.30 and is the price that I paid for trading 'on a hunch'.
So, what is the difference between a pull-back and a reversal and a new trend forming? Well, I have created a check-list of things for me to look for when trying to identify a new trend. Members of the website have access to this check-list!
You can see where I went long (left arrow), and where the trade hit my stop (right arrow). This trade lost £503.30 and is the price that I paid for trading 'on a hunch'.
So, what is the difference between a pull-back and a reversal and a new trend forming? Well, I have created a check-list of things for me to look for when trying to identify a new trend. Members of the website have access to this check-list!
Comments
Post a Comment