I Hate Reversals

[fordewind]

So, as the image suggest, i went short 10 DAX CFDs.An hour or so later i reversed and another hour later made it even.I hate reversal as it can always go the opposite direction and whipsaw you.Normally, i just exit.But in that case, i was looking nothing at but my guts.

What do you guys normally look at to make that reversal decision?

 

[Handle123]

Considering a secondary bottom formed on the lows, higher low, then 4 hour sideways action, not normally a pattern that sells off, where upon there were higher lows/higher highs going into the sell. Saw selling the triple tops, and breakage of recent pivot lows would been good time to go to breakeven stops. I saw the pattern being more of an Ascending triangle which only to be taken to upside.

Half my trades are reversals when price is in chop or when trend trends too hard/fast then get reversal back to the mean to reverse again back into trend.

 

[Laissez Faire]

What you're really saying is that you hate the market, since the market is nothing but an endless sequence of 'reversals' of various sizes.

If you want to be a sucecssful trader, you need to learn how to play these reversals. It's as simple and as hard as that.

Shorting a triple top on that basis alone might be considered naive if that's your whole rationale, so at least use a tight stop on such an entry.

 

[fordewind]

What you're really saying is that you hate the market, since the market is nothing but an endless sequence of 'reversals' of various sizes.

If you want to be a sucecssful trader, you need to learn how to play these reversals. It's as simple and as hard as that.

Shorting a triple top on that basis alone might be considered naive if that's your whole rationale, so at least use a tight stop on such an entry.

Lots of mambo jambo.

 

[Laissez Faire]

Lots of mambo jambo.

Good luck. You'll need a lot of it.

 

[tomorton]

Looks also like you incorrectly entered short right near the apex of an ascending triangle, though it could be argued you actually correctly entered short at the top of a short-term range.

I'm not sure at 8am on this day you had a clear mental picture of what you needed price to print for you to make a trade.

 

[fordewind]

Could you guys at least read what`s in the post context and what the freaking question was asked?This is freaking amazing i`m not an English native here, YOU ARE!

I dont need your freaking morals/lessons here.LEARN FREAKING READING!!!

In that case The Freaking question was like: "WHAT WOULD YOU FREAKING GUYS USE IN SUCH SCENARIOS".

Thanks for your attention and understanding!

 

[fordewind]

Looks also like you incorrectly entered short right near the apex of an ascending triangle, though it could be argued you actually correctly entered short at the top of a short-term range.

I'm not sure at 8am on this day you had a clear mental picture of what you needed price to print for you to make a trade.

My short term range short is arguable but an ascending triangle is cast in stone, right?

Just think what you wrote.Or how long you`ve been trading?

 

[They]

So, as the image suggest, i went short 10 DAX CFDs.An hour or so later i reversed and another hour later made it even.I hate reversal as it can always go the opposite direction and whipsaw you.Normally, i just exit.But in that case, i was looking nothing at but my guts.

What do you guys normally look at to make that reversal decision?

View attachment 186838

Statistics, the same thing I look at for every trade.

 

[fordewind]

Statistics, the same thing I look at for every trade.

You mean statistics like it was Fiday, which prone to stretch the whole day long like accordion?