Les Carlin's Blog

'I decided tot to up my total losses at their lowest point since starting live TA-based trading in Feb 2002: £3934. Admittedly £1700 was due to war effects rather than poor discipline, so the real figure is closer to £2200.'

You sound like some dodgy analyst talking up a stock with great EBITDA. ;)
 
I would be very interested to know if, when you traded the reversal and it had been successful, what your thoughts would have been now ? I would argue that your psychology would be totally different what do you think Les ?


Cheers


Paul
 
I don't know for sure. But i understand what you're getting at, ie that i would be more inclined to pat myself on the back for my good judgment if the reversal panned out. All i can say is that there have been times when this has happened with other types of incorrect entries and during or after i've had the thought that i was simply lucky to get away with it. So even if this one did succeed i now think that eventually i would have come a cropper with trying these reversals.

Another matter here, which i've realised since, is that i am not yet ready to do this, in the sense that i haven't really properly tested a particular strategy for trading the reversal. I have one in mind and on the day i was trying it. The failure of the trade may therefore not eventually amount to a failure of strategy so were i to continue the testing, it might turn out to be feasible. The point really is that i should take the whole thing slower. Now isn't the time for trying new things, but more for consolidating what i'm doing. And when i eventually get to trying this reversal strategy, i should start with some papertrading.

Les
 
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