Long NATGASUSD OANDA when discount was offered between 10EMA and 20EMA.
Trade closed manually:
Exited for -0.16R x 2 loss
I realised two of my mistakes.
One is that I am sometimes trading against the trend.
Even tho the higher time frames are going upwards, however, the lower time frame(below my entry time frame) is actually going the opposite way. And due to this, I get frustrated when price doesnt move in my favour, and many a times, the opposite movement on the lower time frame is a sign that the price is tanking because the big boys are not in this product anymore, or they are taking a pause(who knows how long), and that desperate buyers are trying to clear their stock of whatever product they bought previously.. Instead of letting the price run and hit their intended price, they decided to sell their position off for a lower price either to cut their losses or to take a smaller profit. Leading to dominoes effect.
2nd is that earlier this year, I am trading Breakout Trends on the Daily Time Frame. That means that this product in its early stages of demand just like bitcoin in 2017. But as I progressed further, I took on more types of setups knowingly or unknowingly. And now, my past many trades are more of like, trend following setups. Low win rate and -quote high RR unquote-, and obviously I am not doing what that would make trend following successful for me, which is to buy and hold and hope it goes to the moon over several trades. Instead, what I did was still to manually exit for small losses, just like the type of setups I took in the earlier years for Breakout Trends(Swing Trade).
TLDR :
1 - Higher time frame up, entry time frame up, but lower time frame down. And I still entered, thats why I lost.
2 - Trade Breakout Trends for swing/day trading and be conscious about it. I began trading Trend Following setups consciously/subconsciously leading to losses.
1815SGT
22052024
But, all is well and good, I am more flexible now. And I am still holding onto at least half of my profits from March to May(today)
I realised two of my mistakes.
One is that I am sometimes trading against the trend.
Even tho the higher time frames are going upwards, however, the lower time frame(below my entry time frame) is actually going the opposite way. And due to this, I get frustrated when price doesnt move in my favour, and many a times, the opposite movement on the lower time frame is a sign that the price is tanking because the big boys are not in this product anymore, or they are taking a pause(who knows how long), and that desperate buyers are trying to clear their stock of whatever product they bought previously.. Instead of letting the price run and hit their intended price, they decided to sell their position off for a lower price either to cut their losses or to take a smaller profit. Leading to dominoes effect.
2nd is that earlier this year, I am trading Breakout Trends on the Daily Time Frame. That means that this product in its early stages of demand just like bitcoin in 2017. But as I progressed further, I took on more types of setups knowingly or unknowingly. And now, my past many trades are more of like, trend following setups. Low win rate and -quote high RR unquote-, and obviously I am not doing what that would make trend following successful for me, which is to buy and hold and hope it goes to the moon over several trades. Instead, what I did was still to manually exit for small losses, just like the type of setups I took in the earlier years for Breakout Trends(Swing Trade).
TLDR :
1 - Higher time frame up, entry time frame up, but lower time frame down. And I still entered, thats why I lost.
2 - Trade Breakout Trends for swing/day trading and be conscious about it. I began trading Trend Following setups consciously/subconsciously leading to losses.
1815SGT
22052024
But, all is well and good, I am more flexible now. And I am still holding onto at least half of my profits from March to May(today)