The last trade was one of the hardest battles I've had to fight.
I was a sucker going in long at the PERFECTLY WRONG time, and I refused to be a sucker getting out. I traded my view (that TF will at least test its previous peak at 457.8), and watched for signs telling me I was completely wrong. At one point, I was 1k in the red. Sat for 3 hours, and fought the urge to curse myself for picking a really lousy entry. Kept close tabs on tick almost every moment of the 3 hours - I care not where price was, the plan was that should tick hit the high of the day then turn down, I would bail - coz that could very well be a bearish reversal.
TF had been trading above pivot the whole time - and that was what kept me from getting out when I was caught in that sickening ambush at 9:45am that had TF going 3 points against me in a blink of an eye. But I'm not going to feel happy about that. Tick or no tick, I refuse to be caught in a bull trap again.
It was a day that I kept having to watch for busting of bullish patterns. TF had come up from 446 bottom mostly on inverted scallops on 1min. On 5 min, it was basically S & R, and trendlines that I was watching, plus a broadening formation (partial rise would be my signal to bolt).
I broke my rule and entered long when upward momentum was not there. The first 2 trades would have told me that. I was telling D after the 2nd trade that I kept feeling that market didn't seem willing to go up. And then I had to go long right after saying that.
I'm an idiot.
Definitely a very good lesson learnt.
It was 3 hours of pure torture.
The moment I got out with a 9 tick gain (it's a ranging day, and where I got out was absolutely the highest TF would go today, I bet my cat's entire month of his favorite canned food on that - yes I'm an imbecile for buying at the day's resistance!), D came over to give a big hug, and told me that he knew the battle I was fighting, although I never spoke a word the whole time, and congratulated me for having overcome my fear of HIS max pain. Ha. D's too cute. Not good for me.
I need sleep.
I was a sucker going in long at the PERFECTLY WRONG time, and I refused to be a sucker getting out. I traded my view (that TF will at least test its previous peak at 457.8), and watched for signs telling me I was completely wrong. At one point, I was 1k in the red. Sat for 3 hours, and fought the urge to curse myself for picking a really lousy entry. Kept close tabs on tick almost every moment of the 3 hours - I care not where price was, the plan was that should tick hit the high of the day then turn down, I would bail - coz that could very well be a bearish reversal.
TF had been trading above pivot the whole time - and that was what kept me from getting out when I was caught in that sickening ambush at 9:45am that had TF going 3 points against me in a blink of an eye. But I'm not going to feel happy about that. Tick or no tick, I refuse to be caught in a bull trap again.
It was a day that I kept having to watch for busting of bullish patterns. TF had come up from 446 bottom mostly on inverted scallops on 1min. On 5 min, it was basically S & R, and trendlines that I was watching, plus a broadening formation (partial rise would be my signal to bolt).
I broke my rule and entered long when upward momentum was not there. The first 2 trades would have told me that. I was telling D after the 2nd trade that I kept feeling that market didn't seem willing to go up. And then I had to go long right after saying that.
I'm an idiot.
Definitely a very good lesson learnt.
It was 3 hours of pure torture.
The moment I got out with a 9 tick gain (it's a ranging day, and where I got out was absolutely the highest TF would go today, I bet my cat's entire month of his favorite canned food on that - yes I'm an imbecile for buying at the day's resistance!), D came over to give a big hug, and told me that he knew the battle I was fighting, although I never spoke a word the whole time, and congratulated me for having overcome my fear of HIS max pain. Ha. D's too cute. Not good for me.
I need sleep.
Profit: USD 126
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