My journey to long term consistency

This is a discussion on My journey to long term consistency within the Trading Journals forums, part of the Reception category; Long NASDAQ-100 Net P/L: +10.49 points (+27.01 €) Amount: 3 contracts Opening Rate 6219.64 Close Rate 6230.13 Open time 02/11/2017 ...

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Old Nov 3, 2017, 4:04pm   #593
Joined Aug 2015
DrSafari started this thread Long NASDAQ-100

Net P/L: +10.49 points (+27.01 €)
Amount: 3 contracts

Opening Rate 6219.64
Close Rate 6230.13

Open time 02/11/2017 15:26:34
Close Time 02/11/2017 15:43:15

Stop loss: fixed stop below lowest low

Entry and exit on a 1m chart
screenshot-2017-11-02.jpg

Reason of closure: "trailing" stop loss got hit.

Comments
Big drop so looked at the 5min chart to enter. Setup got triggered so I entered. Price stagnated for a while until it began rallying up. I had a S&R level defined at 6225 so I put a mental trailing stop once price hit that level. I went well beyond that and eventually dropped again after which I closed the trade. Good trade.

And again confirmation of price going up. Stagnating for a while and then soaring up again.
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Old Nov 9, 2017, 4:03pm   #594
Joined Aug 2015
DrSafari started this thread Damn, just missed a profitable trade because the setup was juuuust very little outside of my triggers, but I thought it would be valid anyway. I decided not to take the trade cause this kind of thinking could set you off on a slippery slope. Obviously I have mixed feelings now. Missed profit or a missed trade always hurts more than a losing trade does

Oh well, I'm sure I made the right decision long term wise.
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Old Nov 9, 2017, 7:12pm   #595
Joined Sep 2017
Quote:
Originally Posted by DrSafari View Post

Oh well, I'm sure I made the right decision long term wise.
I'm pretty sure you made the right move too mate.
Well done!
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Old Nov 13, 2017, 4:34pm   #596
Joined Aug 2015
DrSafari started this thread
Quote:
Originally Posted by Nowler View Post
I'm pretty sure you made the right move too mate.
Well done!
Thanks Good not to have given in to greed indeed.
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Old Nov 18, 2017, 1:42pm   #597
Joined Aug 2015
DrSafari started this thread Short NASDAQ-100

Net P/L: -4.70 points (-12.09 €)
Amount: 3 contracts

Opening Rate 6307.53
Close Rate 6312.23

Open time 13/11/2017 16:38:17
Close Time 13/11/2017 16:55:07

Stop loss: fixed stop above highest high

Entry and exit on a 1m chart
screenshot-2017-11-13-17-09-12.png


Reason of closure: exited a losing trade.

Comments
Setup got triggered and trade first went my way but then reversed too soon. I didn't see this trade working anymore so I exited. This is not exactly written down in my system that I can do this. However, price went beyond the S&R level (the red line) and didn't bounce off of it, and later you can see it became support. I used my best judgement here. I did not act out of fear and wasn't thinking irrationally. I should not make a habit out of this though (or add a clausule to the system, but reluctant because I am making profit)
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Old Nov 18, 2017, 1:57pm   #598
Joined Aug 2015
DrSafari started this thread Long NASDAQ-100

Net P/L: +7.15 points (+18.16 €)
Amount: 3 contracts

Opening Rate 6249.98
Close Rate 6257.13

Open time 15/11/2017 16:03:26
Close Time 15/11/2017 16:17:18

Stop loss: fixed stop below lowest low

Entry and exit on a 1m chart
screenshot-2017-11-15-17-02-16.png


Reason of closure: trailing SL got hit

Comments
Setup got triggered after a big move down. Price reached a predefined S&R level after which I put a trailing SL that got hit at the exit time. If I had ignored it I would have had atleast twice the profit but that is trading. This always hurts more than a loser to me. But you cannot expect to take full advantage every move. You should be glad and lucky if you happen to catch one once in a while. Still a good profit so let's just continue like this, stay humble and not get greedy.
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