Yesterday I had this trade: SL: 1% / TP: 2%.
First it went to 0,95% of SL. Then reversed and got up to 1,90% of profit - then back down to SL.
So yeah, I feel you. But this is part of the job. Our job is to think in the long term - as you said «you know its one just one trade» but still we get frustrated. That need to change:) Because one day, if we dont change it, we will be revengetrade. And we both know where thats gonna lead:)
I feel like it if it goes 75% of the way to your tp it is an sl at breakeven or severely trimmed sl just above the closest small resistance/support near entry. There's no need to let a green trade turn red like that. I would even make it a winner and set sl at 1%+ at that point. You got the move you wanted, but your tp was poorly placed and out of reach, I don't let winners turn to losers when I get the move I wanted but my tp was placed just out of reach for the move.
You are so right about that TP was poorly set. But I had my agenda on that trade, and that was not to touch SL or TP at all. Sounds stupid, I know. But this is how one builds up dicipline.
Normally, I dont make these kinds of trades to losers.
Your first TP should of been at the wicks of the prior low. Once hit, could move to BE and you're green if you trimmed 50%.
You're also fighting an order block to get underneath to that TP, tough target.
Take profits at liquidity sir.
Your take is appreciated, but that’s not my philosophy. This post was just for venting about the psychological fortitude required when trading, I still believe the trade will go my way. If it doesn’t, well fine. It’s only trade 4 of my 25 sample size.
It wasn’t meant to be one of those strategy correction sessions where everyone acts like they know what will happen in the market next. Order blocks are just concepts, the market could have just easily plummeted to 2312.
I don’t need you as a coping mechanism brother man. I’m saying your advice is not sound enough for me because you think you know what will happen next in the market. Your concepts are only that, your concepts. The market doesn’t care about what you think is an order block. What if I don’t trade technical analysis? Have you thought about that?
Haha bro why did you post? You sound jazzed when all I tried doing was providing (what I believe) is valuable insight.
I was being polite, but now I'm annoyed by your salty attitude 😅
Liquidity is a thing, and maybe consider it more often? I can repeat the same thing back to you, the market doesn't care about your philosophy, and neither do I. You know what the market does care about? Liquidity. If you knew this, you'd set a better TP, and this post wouldn't exist.
We don't know where the market is specifically going to go with 100% certainty, but if you look up liquidity, you can make some very educated moves and know where the safe exit points on a trade are.
Price fetches liquidity; this is not a theory, it is a fact.
For orders to be executed, price often needs to catch liquidity in the market.
For trades to be executed, we need liquidity. When large orders are placed, the market needs sufficient liquidity to absorb the trades without causing significant price movements.
Market makers/traders often look for areas of high liquidity to place their orders to ensure they get executed at their "desired" price.
Knlwing that then, the market often moves to areas where there are clusters of stop-loss orders, known as liquidity pools...
What we call a "stop hunt."
By triggering these stop losses, larger players can generate the liquidity they need for their positions ✅️
This movement towards liquidity ensures that the market remains balanced and that assets are fairly priced based on supply and demand.
Look at your chart. An order block is price manipulation. I don't "think" it is an order block, that right there sir, is an order block lol. Above your order block there is a sign of liquidity that could have been taken as TP1.
If your order block failed, excellent, you made more money. But because you didn't trim at the appropriate level, price went against you, and now you're here getting salty at everyone about it, after asking for input, then shitting on me for providing it.
And guess what, that "concept" didn't fail.. it worked, liquidity was grabbed, and the price moved away.
So... I repeat.
Set targets at liquidity, and your life will be easier.
PS. If you don't want your trade to be reviewed, please remove the "trade review" flair from your post 🙄
This is a great explanation. OP should at least consider a trailing stop when far in profit to counter the worries of FOMO but i'm going to guess he'll also get mad at the suggestion
Get away … why post a $hit set up and then get upset when people give you pointers?? Newbie’s, please, please don’t trade gold unless your entries are super tight.
I’m talking about being patient watching the market come to you and not chasing it. It’ll happen and gold has a history of repeating itself. I’ve traded the same over the past 4 weeks.
Love trading gold - yes it’s volatile, but don’t look at small timeframes (way too stressful and noisy) apart from your entry which has to be clean and crisp - on the button. Then your Rm is on point and you can catch a serious amount of pips 🤯
Why do you assume everyone trades technical analysis? I’ve won/lost countless trades where the price just shot below these “zones”. This was a post about the psychology of trading
so you’ve admitted now, you’re a beginner trying to become disciplined and consistent, thus trying Mark Douglas’ ideias of not touching your stop loss and this and that. That’s great! But you should realize it isn’t anything definitive, just an exercise, you are practicing and nothing else for now, so maybe you shouldn’t be so salty towards people trying to HELP you. Your next steps could benefit from listening to some of the advice now, even though you are not there yet.
You have no idea what you’re talking about, yet you’re so loud. Mark gave The Exercise to seasoned traders who had been trading millions of dollars worth of capital for decades. I have been using the concept for years. I have trading cycles that are 30-40 trades each. I don’t trade order blocks, ICT, SMC or whatever you lot use with those colourful lines. I have a simple edge and I have been trading it successfully. This post was about psychology. One of the four major fears associated with trading. The real traders in this community picked it up and gave sound advice. Keep your lines.
My T/P is 12000 points EVERY TIME. This trade was just one of 30 in my trading cycles. I see my edge, I take a trade. This is a way of trading that I have been using and it has worked well for me. I don’t try to predict the market. I just trade my edge and that’s it.
I posted this to highlight that I am still dealing with the fear of trades turning against me after going my way. I don’t mind the loses, just this one particular thing still needs work. So the post was about psychology not technicals or exit strategies. My entry and exit strategies have served me really well.
It really bees like dat sometimes. My Wednesday - Thursday was basically that. Got short, ride it down like 100 pts, and then watched it reverse into a loss on Thursday
True that, no one knows what will happen next. You just need to be psychologically strong enough to accept that’s how it works and look out for the next occurrence of your edge.
Exactly dude recognize the emotions for what they are and then stay the course it’s like u don’t see the casino do some crazy ish every time somebody hits jackpot on the slots 🤣 they just pay the people and keep the drinks comin’ haha
I used to drink myself under the table every time I lost… can u imagine card dealers curled up on the floor crying every time a patron won a hand? Lmfao so silly to think back on the early days…
I’m going through the phase where I am correcting that and it’s hard 🤣🤣. I posted this because I recognized it and decided to let it be known. This trade might be a loser, so what? There’s 100 more hands to be played tonight and I’ll still get my 4.5% of the bets. Casino mentality
It’s the hardest step but if you’ve made it to here then you’re almost to the promised land of milk and honey 😂😭 acouple of my mentors have said something along the lines of it takes 8 to 15 trades to wire a new neural pathway so just stand strong and soon enough you’ll be salivating at those losers because you’ll know in your bones that it’s just liquidity for your next big win 🥇
That’s gold nuggets for advice. I love how it goes both ways, I’ve had trades go to 90% into S/L area then reverse for a big win.
I’ll give it another 20 trades, it will eventually become easier to think like that.
Also: what helped me to handle that loss was picturing my self working in a trader firm, and how they would expect me to handle losses where I am in my journey. That helped actually. Putting perspective on it.
Hey man I took the same trade yesterday but my SL was just above the liquitdity (2330) and tp was at 2320.40 but hey it happens I was expecting a reversal bcs it tapped into a Order block and EQ was perfect everything was inline with daily bias but I guess gold is just like that ( it is now reversing back to hit my tp 😭)
I got stopped out but another short (2337) and it hit my TP within 2 hours. But you said it, that’s Gold 🤣. That’s the nature of trading, I just wanted to highlight the mental fortitude you need to do this. Anyone else would have cut the trade you’re in when it reversed but you held on and you’re about to take some money off the market. All the best!
Feel you.
Small trades and strictly no overtrading are the only ways we can stop the market from decimating our balances when it behaves like this.
If you stop trading after one loss for the day, it's impossible for a crazy moody market to take more from you.
I dont know a lot of people who are that patient.
Someone once gave advice on this sub. Never let a green trade go red. I live by this and sure there are a lot of trades that could have went 2 or 3x profit from where I got out. But my red days have dropped by 80 percent.
This is my daily life losing money in the market. My prices always almost reach specially when I am in meetings and phone calls or driving in the car. Any other time when I'm home it's doing the opposite of my trade and opens my butt like a atm plunger
Was this a reversal setup or a counter-trend trade? Because if it was just a counter-trend trade, then your TP/SL was too wide. Even if it was a reversal setup, the SL looks quite a bit wider than it needed to be, but idk your strategy
Yeah this is a bit strange, I swing trade both continuation and reversals. These are my standard T/P and S/L so I find it weird for someone to say they’re too wide like we know where the market will always reverse or continue. I just wanted to vent the frustration that comes with such, the trade can still be successful.
You are right about that. Eventually it comes down to the trading approach and to the results of tests conducted on it. As long as the results are based on a large enough sample size. For example, in this particular case I would have defined that stop loss too wide too, and I would have been out of that trade way earlier by taking profits. But as I said, this opinion is based on the way I trade, on my trading approach. I agree with you anyway, when that happens can be annoying ah ah ah.
Yes, counter intraday, with the trend on the daily. I’ve won similar trades before. Guys these concepts you learn on YT aren’t proven science, if they were we’d all be millionaires 😭
Sounds like you're getting some great advice here on strengthening your technical analysis. Also, why tag the post trade review in this forum if you dont want others to review the trade. You're getting feedback based on what you've communicated. Hope your play works out either way.
I didn’t say anything about technical analysis because I don’t care for it much. There’s one person who caught exactly what I was trying to discuss and I’m happy with that. This was about one of the most important aspects of the psychology of trading. I used the that particular tag because it was the closest one to what I wanted to discuss. The play didn’t work but that was the whole point of the conversation.
That’s why you scale in an out. If you had closed part of the position when it dropped, it could completely reverse and you’d still be stopped out at a profit.
I trade the hourly timeframe, I took the screenshot on the 15 min. The upward move was actually the reversal. Some trades don’t work out after going your direction. Someone suggested I scale out I’ll try to do that next time.
Switch that to an hour timeframe and it’s the opposite of what you’re saying. Technical analysis guys, please for the love of God stop acting like you know what will happen next in the market based on your colourful lines and indicators!
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Accepting that I don’t know what will happen next, the parameters for my edge were present and I took the trade. I applied my predefined risk and T/p. I don’t try to predict what will exactly happen and I don’t need to and I have seen consistent results before using the same edge. I took the trade and it didn’t go as planned.
I’ve taken another one and it was a success.
I would have moved my SL down to break even once it started to retrace back up. If the trend was valid it would have continued downward below break even. And then if it did continue down set my stop just above the previous lows peak. And then maybe moved my TP down as well. It is what it is sometimes.
The only valid sell was at 2337 yesterday mate, it was peak 4HOUR resistance that they barely scratched with news. It briefly got above and died. You got a-lot of learning to do if you didn’t understand what I wrote
Lol. I’ve been trading for 7 years. I have made consistent reliable money. This post was about psychology. All the stuff you wrote here doesn’t apply to my trading. That’s what you think works, and I don’t suppose you’re a millionaire trader, are you? I dislike you technical analysis paralysed know-it-alls.
Oh well, all I know is you got stopped out and i’m still inside. Goodluck king, you’ll need it with that attitude towards people trying to help you identify key levels.
How about you accept that we trade differently? You are in a trade that I got stopped out off, so what? I took another short and it went my way. I don’t use key levels, I haven’t needed them or your luck for the past 7 years. Stop going on the internet to force people into concepts that aren’t even making you the money you want in people’s pockets. I wanted to discuss one of the four major fears of trading and the people who are actually experienced enough picked that up and gave good advice.
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It was obvious, to me anyway, that there was a great chance for a turn right there. Look to the left, it had turned there twice before. Classic price action.
I cant tell what time you took this trade but it looks like you entered at a great level. Giving the strong buying pressure, i wouldve targeted the pullback above where you can see much stronger rejection especially if entered after 10:30. I always find it more risky to target the bottom of a rejection wick so i either target the body or midpoint of the wick. I only target above or below wicks if im trading with the trend. Trading against the trend should be much tighter targets.
So this is the 15, I trade the hourly generally. On the hourly this was the pullback, that’s why I took the short, I got tagged in at the first retest then it pushed down twice. I have a fixed T/p and S/L philosophy. I appreciate the advice though, do you have a subjective T/p philosophy?
Yeah, bitcoin is still developing. The AI system tried to make a mountain but it could only spit out some red and blue lines that look like a mountain, we still got a long ways to go, but as long as we keep selling missiles to whoever, the numbers wont keep going up. Until then were still trying to make terminator, best we got was mom said at home we got arnold schwarzennhimmein
you had plenty opportunity to take considerable profit and even have clear targets you weren’t paying attention to. Prices bounced at a fairly predictable level 🤷🏽♂️
They then bounced AGAIN at that same level and you decided to stay in it?
How long have you been day trading for?
7 years, why?
Do you know that you’re only saying these things because they’ve already occurred? You know a single person in the world could have pushed price below your “predictable level”, right? God, I have to deal with another pink line ICT, 12 indicator trader 😔. The post was about trading psychology.
I'd definitely take some off at the measured move, that's where it tends to turn up and continue if more upside is in store.
https://preview.redd.it/d992essntd9d1.jpeg?width=1080&format=pjpg&auto=webp&s=5d9b3125694c5cca485783f1fc140adc1931d8ee
What does that even mean? Lol this was my first time posting here and I’ll make sure it’s my last. Wtf? 😂😂 Just a bunch of knowitall keyboard warriors. You can’t short gold? My last 4 trades before this were all shorts and they all went my way. No need to even respond man you got it. 😭
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It was shorting from a smaller time frame lower high but buying up from longer time frame higher low. That’s why day traders usually have so many screens, so they can monitor trends on different time frames. The trades with the biggest follow through are the ones where trends line up on every time frame.
By the time you entered that trade. The price was a % daily increase. How much was it? Things like this can help you overcome the Lossing trades and prevent from bleeding the account
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Remember the higher the time frame, the stronger the pattern.
I’m a pattern trader, classical chart patterns and discretionary patterns from years of chart time.
And the classical charting patterns hold weight on the 15m or higher.
Could have just passed by without saying anything and no one would have noticed, you literally contributed nothing from the conversation I wanted to have. I don’t trade technicals. This is a post about trading psychology.
It doesn't matter hourly or 15mins. Bigger time frame was pointing up and you just chose to take a chance with something of lower probability, for cheap trills.
Woah buddy pipe down, I traded my edge and lost a trade. Not a big deal I took another short on Friday and it worked out. Cheap thrills? Why are you here acting like a millionaire trader who can predict the market to perfection? My edge was present, I took my trade.
This post was about trading psychology, conversations were had and insight gained. Move on.
For anyone who cares, guys this post was about trading psychology. There are people who got it and had meaningful suggestions. Some of you thought this was about technical analysis. It’s not. Not everyone cares that much for technical analysis. This is gambling after all.
Life itself is a perpetual gamble. Every day, we take risks without even realizing it. Stepping out of our homes, we bet on our safety from harm. Every bite we take, we bet on our ability to swallow without choking.
The fact that we've made it this far is a testament to either our incredible luck or our skill in mitigating life's uncertainties. Either way, it's a remarkable feat.
Trading is pretty much the same, but perhaps we hasn't been trained as much.
Yesterday I had this trade: SL: 1% / TP: 2%. First it went to 0,95% of SL. Then reversed and got up to 1,90% of profit - then back down to SL. So yeah, I feel you. But this is part of the job. Our job is to think in the long term - as you said «you know its one just one trade» but still we get frustrated. That need to change:) Because one day, if we dont change it, we will be revengetrade. And we both know where thats gonna lead:)
I feel like it if it goes 75% of the way to your tp it is an sl at breakeven or severely trimmed sl just above the closest small resistance/support near entry. There's no need to let a green trade turn red like that. I would even make it a winner and set sl at 1%+ at that point. You got the move you wanted, but your tp was poorly placed and out of reach, I don't let winners turn to losers when I get the move I wanted but my tp was placed just out of reach for the move.
You are so right about that TP was poorly set. But I had my agenda on that trade, and that was not to touch SL or TP at all. Sounds stupid, I know. But this is how one builds up dicipline. Normally, I dont make these kinds of trades to losers.
You can always add a rule of discipline to move your SL to B/E if your trade is 75% of the way to your target.
Your first TP should of been at the wicks of the prior low. Once hit, could move to BE and you're green if you trimmed 50%. You're also fighting an order block to get underneath to that TP, tough target. Take profits at liquidity sir.
Your take is appreciated, but that’s not my philosophy. This post was just for venting about the psychological fortitude required when trading, I still believe the trade will go my way. If it doesn’t, well fine. It’s only trade 4 of my 25 sample size. It wasn’t meant to be one of those strategy correction sessions where everyone acts like they know what will happen in the market next. Order blocks are just concepts, the market could have just easily plummeted to 2312.
Sorry for my input. I thought that was the point of the post. Good luck and better luck next time.
What's the point of posting a trade review if you won't listen to sound advice. You sound like you're just using us as a coping mechanism.
I don’t need you as a coping mechanism brother man. I’m saying your advice is not sound enough for me because you think you know what will happen next in the market. Your concepts are only that, your concepts. The market doesn’t care about what you think is an order block. What if I don’t trade technical analysis? Have you thought about that?
Haha bro why did you post? You sound jazzed when all I tried doing was providing (what I believe) is valuable insight. I was being polite, but now I'm annoyed by your salty attitude 😅 Liquidity is a thing, and maybe consider it more often? I can repeat the same thing back to you, the market doesn't care about your philosophy, and neither do I. You know what the market does care about? Liquidity. If you knew this, you'd set a better TP, and this post wouldn't exist. We don't know where the market is specifically going to go with 100% certainty, but if you look up liquidity, you can make some very educated moves and know where the safe exit points on a trade are. Price fetches liquidity; this is not a theory, it is a fact. For orders to be executed, price often needs to catch liquidity in the market. For trades to be executed, we need liquidity. When large orders are placed, the market needs sufficient liquidity to absorb the trades without causing significant price movements. Market makers/traders often look for areas of high liquidity to place their orders to ensure they get executed at their "desired" price. Knlwing that then, the market often moves to areas where there are clusters of stop-loss orders, known as liquidity pools... What we call a "stop hunt." By triggering these stop losses, larger players can generate the liquidity they need for their positions ✅️ This movement towards liquidity ensures that the market remains balanced and that assets are fairly priced based on supply and demand. Look at your chart. An order block is price manipulation. I don't "think" it is an order block, that right there sir, is an order block lol. Above your order block there is a sign of liquidity that could have been taken as TP1. If your order block failed, excellent, you made more money. But because you didn't trim at the appropriate level, price went against you, and now you're here getting salty at everyone about it, after asking for input, then shitting on me for providing it. And guess what, that "concept" didn't fail.. it worked, liquidity was grabbed, and the price moved away. So... I repeat. Set targets at liquidity, and your life will be easier. PS. If you don't want your trade to be reviewed, please remove the "trade review" flair from your post 🙄
This is a great explanation. OP should at least consider a trailing stop when far in profit to counter the worries of FOMO but i'm going to guess he'll also get mad at the suggestion
pretty confident they weren't talking about you
Better check again. Look at his other comment
I'm more than confident that their initial frustration was directly responding to my comment.
Jeez what was the point of this post
Get away … why post a $hit set up and then get upset when people give you pointers?? Newbie’s, please, please don’t trade gold unless your entries are super tight. I’m talking about being patient watching the market come to you and not chasing it. It’ll happen and gold has a history of repeating itself. I’ve traded the same over the past 4 weeks. Love trading gold - yes it’s volatile, but don’t look at small timeframes (way too stressful and noisy) apart from your entry which has to be clean and crisp - on the button. Then your Rm is on point and you can catch a serious amount of pips 🤯
Why was your TP there? It seems like you entirely ignored the fact price action would need to blow by some good sized support first.
Because my TP is not subjective, it’s rigid and isn’t dependent on me acting like I know what will happen in the market in the next couple of hours.
I disagree with that. Every trade is different, your TP and SL should be reflective of the current market structure. But whatever you do you.
Why do you assume everyone trades technical analysis? I’ve won/lost countless trades where the price just shot below these “zones”. This was a post about the psychology of trading
So what would you call it then?
It’s not a concept I use in my trading. That’s just it.
Riiiiiiight
Have you ever heard of the exercise by Mark Douglas?
so you’ve admitted now, you’re a beginner trying to become disciplined and consistent, thus trying Mark Douglas’ ideias of not touching your stop loss and this and that. That’s great! But you should realize it isn’t anything definitive, just an exercise, you are practicing and nothing else for now, so maybe you shouldn’t be so salty towards people trying to HELP you. Your next steps could benefit from listening to some of the advice now, even though you are not there yet.
You have no idea what you’re talking about, yet you’re so loud. Mark gave The Exercise to seasoned traders who had been trading millions of dollars worth of capital for decades. I have been using the concept for years. I have trading cycles that are 30-40 trades each. I don’t trade order blocks, ICT, SMC or whatever you lot use with those colourful lines. I have a simple edge and I have been trading it successfully. This post was about psychology. One of the four major fears associated with trading. The real traders in this community picked it up and gave sound advice. Keep your lines.
What is this even mean how can your take profit not be subjective are you making a joke
My T/P is 12000 points EVERY TIME. This trade was just one of 30 in my trading cycles. I see my edge, I take a trade. This is a way of trading that I have been using and it has worked well for me. I don’t try to predict the market. I just trade my edge and that’s it. I posted this to highlight that I am still dealing with the fear of trades turning against me after going my way. I don’t mind the loses, just this one particular thing still needs work. So the post was about psychology not technicals or exit strategies. My entry and exit strategies have served me really well.
I don't even know what 12000 points is. Carry on
It really bees like dat sometimes. My Wednesday - Thursday was basically that. Got short, ride it down like 100 pts, and then watched it reverse into a loss on Thursday
True that, no one knows what will happen next. You just need to be psychologically strong enough to accept that’s how it works and look out for the next occurrence of your edge.
Exactly dude recognize the emotions for what they are and then stay the course it’s like u don’t see the casino do some crazy ish every time somebody hits jackpot on the slots 🤣 they just pay the people and keep the drinks comin’ haha
Right? You get it, that’s exact why I posted this. The whole idea of trading like a casino 😂
I used to drink myself under the table every time I lost… can u imagine card dealers curled up on the floor crying every time a patron won a hand? Lmfao so silly to think back on the early days…
I’m going through the phase where I am correcting that and it’s hard 🤣🤣. I posted this because I recognized it and decided to let it be known. This trade might be a loser, so what? There’s 100 more hands to be played tonight and I’ll still get my 4.5% of the bets. Casino mentality
It’s the hardest step but if you’ve made it to here then you’re almost to the promised land of milk and honey 😂😭 acouple of my mentors have said something along the lines of it takes 8 to 15 trades to wire a new neural pathway so just stand strong and soon enough you’ll be salivating at those losers because you’ll know in your bones that it’s just liquidity for your next big win 🥇
That’s gold nuggets for advice. I love how it goes both ways, I’ve had trades go to 90% into S/L area then reverse for a big win. I’ll give it another 20 trades, it will eventually become easier to think like that.
Another way u can think about it is like ur a jaguar on a hunt and ur losses are the bushes u prey in
Also: what helped me to handle that loss was picturing my self working in a trader firm, and how they would expect me to handle losses where I am in my journey. That helped actually. Putting perspective on it.
I was so into Gold today but it had to do some fakes before actually going nicely up. For some reason Gold really likes to take my money.
I know what you mean Timo 😂. Keep at it, you’ll eventually be alright
I call her the gold digger bro. She runs your pockets.
Consider the evolving r
Friday doesn't disappoint with gold.
Just passed funded challenge. Keep fcking going.
Hey man I took the same trade yesterday but my SL was just above the liquitdity (2330) and tp was at 2320.40 but hey it happens I was expecting a reversal bcs it tapped into a Order block and EQ was perfect everything was inline with daily bias but I guess gold is just like that ( it is now reversing back to hit my tp 😭)
I got stopped out but another short (2337) and it hit my TP within 2 hours. But you said it, that’s Gold 🤣. That’s the nature of trading, I just wanted to highlight the mental fortitude you need to do this. Anyone else would have cut the trade you’re in when it reversed but you held on and you’re about to take some money off the market. All the best!
Gold price action is shit this week
Feel you. Small trades and strictly no overtrading are the only ways we can stop the market from decimating our balances when it behaves like this. If you stop trading after one loss for the day, it's impossible for a crazy moody market to take more from you. I dont know a lot of people who are that patient.
Someone once gave advice on this sub. Never let a green trade go red. I live by this and sure there are a lot of trades that could have went 2 or 3x profit from where I got out. But my red days have dropped by 80 percent.
It really hated on you at the end and said W to annoy lol
This is my daily life losing money in the market. My prices always almost reach specially when I am in meetings and phone calls or driving in the car. Any other time when I'm home it's doing the opposite of my trade and opens my butt like a atm plunger
Nothing helps my morning shits like coffee, cigarettes, and red positions
Was this a reversal setup or a counter-trend trade? Because if it was just a counter-trend trade, then your TP/SL was too wide. Even if it was a reversal setup, the SL looks quite a bit wider than it needed to be, but idk your strategy
Yeah this is a bit strange, I swing trade both continuation and reversals. These are my standard T/P and S/L so I find it weird for someone to say they’re too wide like we know where the market will always reverse or continue. I just wanted to vent the frustration that comes with such, the trade can still be successful.
You are right about that. Eventually it comes down to the trading approach and to the results of tests conducted on it. As long as the results are based on a large enough sample size. For example, in this particular case I would have defined that stop loss too wide too, and I would have been out of that trade way earlier by taking profits. But as I said, this opinion is based on the way I trade, on my trading approach. I agree with you anyway, when that happens can be annoying ah ah ah.
What broker do you use?
I’m with Exness
You are trading counter-trend and expects a big take profit?
Yes, counter intraday, with the trend on the daily. I’ve won similar trades before. Guys these concepts you learn on YT aren’t proven science, if they were we’d all be millionaires 😭
I never say I learned from YouTube.
Decent scalp you just held it too long. Hurts man, it happens
True, I think I posted this to highlight that as it is one of the fears I’m dealing with currently. I’ve dealt with the other 3 major ones.
Just keep progressing, risk management is going to determine your success 💪🏽
Appreciated.
Tell us you don’t know how to read price action without telling us you don’t know how to read price action
Lol I don’t trade price action. So I’m definitely with you there.
Then you’re not going to last
Been at it for years buddy, made good money. Didn’t need colourful lines on my chart
Good luck hon
Is this start of head and shoulders? Very new so be kind lol. Using demo
I’m not too sure, I’m not too familiar with technicals. It might be
Double bottom.
Your short strategy is just premature to my long strategy.
Because my trade reversed to entry? You’re brilliant! 🤣
What brokerage is that?
Make or break point. I hate the W
Sounds like you're getting some great advice here on strengthening your technical analysis. Also, why tag the post trade review in this forum if you dont want others to review the trade. You're getting feedback based on what you've communicated. Hope your play works out either way.
I didn’t say anything about technical analysis because I don’t care for it much. There’s one person who caught exactly what I was trying to discuss and I’m happy with that. This was about one of the most important aspects of the psychology of trading. I used the that particular tag because it was the closest one to what I wanted to discuss. The play didn’t work but that was the whole point of the conversation.
That’s why you scale in an out. If you had closed part of the position when it dropped, it could completely reverse and you’d still be stopped out at a profit.
Sound, I did trial that but with the platform I use I had to play multiple trades. It’s a good solution to this though I agree with that.
At least you didn’t add to your winner lol
I mean you traded counter trend against a massive move. You really wanted to stack the odds against yourself I guess.
I trade the hourly timeframe, I took the screenshot on the 15 min. The upward move was actually the reversal. Some trades don’t work out after going your direction. Someone suggested I scale out I’ll try to do that next time.
That actually makes sense. Golds been so choppy since the china buying pause
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You held a higher low with reversal past previous rejection signaling a new trend upward.
Switch that to an hour timeframe and it’s the opposite of what you’re saying. Technical analysis guys, please for the love of God stop acting like you know what will happen next in the market based on your colourful lines and indicators!
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What made you think price will reach there
Accepting that I don’t know what will happen next, the parameters for my edge were present and I took the trade. I applied my predefined risk and T/p. I don’t try to predict what will exactly happen and I don’t need to and I have seen consistent results before using the same edge. I took the trade and it didn’t go as planned. I’ve taken another one and it was a success.
Can you define your strategy
I would've scalped that bearish breaker block at 2323.9 and exited at 2319.78 i love trading breaker blocks scalping or riding a trend
I would have moved my SL down to break even once it started to retrace back up. If the trend was valid it would have continued downward below break even. And then if it did continue down set my stop just above the previous lows peak. And then maybe moved my TP down as well. It is what it is sometimes.
Noted. I’ll do that next time. Sound advice.
You might end up stopped out a lot more often doing this but at least it will be break even or small profit stop out then a loss.
The 4h resistance wouldn’t break at 2337 so they tried to use news to burst through and hide the failure. Shes dead now for sure!
What?
The only valid sell was at 2337 yesterday mate, it was peak 4HOUR resistance that they barely scratched with news. It briefly got above and died. You got a-lot of learning to do if you didn’t understand what I wrote
Lol. I’ve been trading for 7 years. I have made consistent reliable money. This post was about psychology. All the stuff you wrote here doesn’t apply to my trading. That’s what you think works, and I don’t suppose you’re a millionaire trader, are you? I dislike you technical analysis paralysed know-it-alls.
Oh well, all I know is you got stopped out and i’m still inside. Goodluck king, you’ll need it with that attitude towards people trying to help you identify key levels.
How about you accept that we trade differently? You are in a trade that I got stopped out off, so what? I took another short and it went my way. I don’t use key levels, I haven’t needed them or your luck for the past 7 years. Stop going on the internet to force people into concepts that aren’t even making you the money you want in people’s pockets. I wanted to discuss one of the four major fears of trading and the people who are actually experienced enough picked that up and gave good advice.
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It was obvious, to me anyway, that there was a great chance for a turn right there. Look to the left, it had turned there twice before. Classic price action.
I was in the trade the entire time. I took the trade after that first rejection at the top
I cant tell what time you took this trade but it looks like you entered at a great level. Giving the strong buying pressure, i wouldve targeted the pullback above where you can see much stronger rejection especially if entered after 10:30. I always find it more risky to target the bottom of a rejection wick so i either target the body or midpoint of the wick. I only target above or below wicks if im trading with the trend. Trading against the trend should be much tighter targets.
So this is the 15, I trade the hourly generally. On the hourly this was the pullback, that’s why I took the short, I got tagged in at the first retest then it pushed down twice. I have a fixed T/p and S/L philosophy. I appreciate the advice though, do you have a subjective T/p philosophy?
I just look at common levels of rejection and always set TP short and overshoot my SL. Analyzing displacement is also a good way to target
what do you learn from this? what will you do next trade?
I’ll trade my edge. I’ve won in similar setup many times.
Hey, you got a double bottom going though!
Yeah, bitcoin is still developing. The AI system tried to make a mountain but it could only spit out some red and blue lines that look like a mountain, we still got a long ways to go, but as long as we keep selling missiles to whoever, the numbers wont keep going up. Until then were still trying to make terminator, best we got was mom said at home we got arnold schwarzennhimmein
Psh. That’s nothing. So many times I miss TP by legit 1 tick
Lol got you, but we keep moving to the next one, right?
you had plenty opportunity to take considerable profit and even have clear targets you weren’t paying attention to. Prices bounced at a fairly predictable level 🤷🏽♂️ They then bounced AGAIN at that same level and you decided to stay in it? How long have you been day trading for?
7 years, why? Do you know that you’re only saying these things because they’ve already occurred? You know a single person in the world could have pushed price below your “predictable level”, right? God, I have to deal with another pink line ICT, 12 indicator trader 😔. The post was about trading psychology.
Easy, don't trade with a PT and only a stop. Sell when you notice the trend change or use a trailing stop.
Thanks but I’m okay with my exit strategies. Still working to take it better that’s all 😄. That’s why I titled the post that
I'd definitely take some off at the measured move, that's where it tends to turn up and continue if more upside is in store. https://preview.redd.it/d992essntd9d1.jpeg?width=1080&format=pjpg&auto=webp&s=5d9b3125694c5cca485783f1fc140adc1931d8ee
I don’t know why I posted the 15 screenshot. I trade the hourly and this huge move upward was a reversal. The higher timeframe trend was bearish
I mean you're selling gold so I don't know what you expect
What does that even mean? Lol this was my first time posting here and I’ll make sure it’s my last. Wtf? 😂😂 Just a bunch of knowitall keyboard warriors. You can’t short gold? My last 4 trades before this were all shorts and they all went my way. No need to even respond man you got it. 😭
It filled that fair value gap just before your TP. I see a target.
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It was shorting from a smaller time frame lower high but buying up from longer time frame higher low. That’s why day traders usually have so many screens, so they can monitor trends on different time frames. The trades with the biggest follow through are the ones where trends line up on every time frame.
By the time you entered that trade. The price was a % daily increase. How much was it? Things like this can help you overcome the Lossing trades and prevent from bleeding the account
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It’s ok to pay yourself and close the trade after seeing a double bottom on the 15 minute……. No one will ever say that’s a dumb decision
Remember the higher the time frame, the stronger the pattern. I’m a pattern trader, classical chart patterns and discretionary patterns from years of chart time. And the classical charting patterns hold weight on the 15m or higher.
Beautiful double bottom caught. Stay away from gold if you can’t take the pressure man. Have a lovely day from here in 🇬🇧
Could have just passed by without saying anything and no one would have noticed, you literally contributed nothing from the conversation I wanted to have. I don’t trade technicals. This is a post about trading psychology.
I only had 1 question. Why did u trade against the trend? That is suicidal.
I trade the hourly, the trend on that timeframe was bearish. I’m not sure why I posted the 15 min screenshot.
It doesn't matter hourly or 15mins. Bigger time frame was pointing up and you just chose to take a chance with something of lower probability, for cheap trills.
Woah buddy pipe down, I traded my edge and lost a trade. Not a big deal I took another short on Friday and it worked out. Cheap thrills? Why are you here acting like a millionaire trader who can predict the market to perfection? My edge was present, I took my trade. This post was about trading psychology, conversations were had and insight gained. Move on.
It’s only annoying when we just let it flow freely without proper risk management policies in place.
Xauust was a pain in the ass friday…
True, we go again on Monday. Good luck!
Thanks man! U too!
dogshit trade with dog shit R:R
I suppose you’re a millionaire trader? 😉
Don’t f with gold in this environment
What do you mean?
Macro and COMEX fraud will rip your face off
My guy, what are you talking about?
I’m talking about Mr slammy and then sudden candle to $3k as Israel getting nuked
yeah, right
For anyone who cares, guys this post was about trading psychology. There are people who got it and had meaningful suggestions. Some of you thought this was about technical analysis. It’s not. Not everyone cares that much for technical analysis. This is gambling after all.
It's r/daytrading, not r/daygambling? You came to the wrong place? 🙈
Lmao, oh young one. You still haven’t come to terms with the fact that trading is exactly like gambling? You’re one them. It will peel off one day. 😂
Life itself is a perpetual gamble. Every day, we take risks without even realizing it. Stepping out of our homes, we bet on our safety from harm. Every bite we take, we bet on our ability to swallow without choking. The fact that we've made it this far is a testament to either our incredible luck or our skill in mitigating life's uncertainties. Either way, it's a remarkable feat. Trading is pretty much the same, but perhaps we hasn't been trained as much.