I'm babyraging over this stupid market

heavenskrow

heavenskrow

I short at red arrow marked by white line. MY setup and edge was telling me good risk/reward so I short there. Price action soon started to confirm my trade, and got a few ticks in my general direction before it bottomed for the session and rallied with rest of American indexes.... Then it rallied all the way back to my entry, so I took a scratch.. and the session closed....
6B6BTC7.png

As I get ready to trade Asia, I notice my entry was gold...and instead babyraging how retarded the market is.... Why did it rally all the way back to the same exact entry level, and then SELLOFF. If the market respected a certain area, why would it need to retest twice before making a move.

I'm just sooo upset I had a good trade in entry and follow through, until of course the idiot market came back all the way back to the same exact entry level, before making its move...
 
vanzandt said:
Thats why I closed everything today in my paper journal except the VMC puts.
Timing's everything. :sneaky:
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Smart move because the only stocks having any kind of follow through are small and midcap Oil and Gas along with some gold. This Market feels like 2001-2002's massive chop, anyone remember getting stopped in and out or losing gains because these spikes disappear while bids dry up quickly.
 
heavenskrow said:
I short at red arrow marked by white line. MY setup and edge was telling me good risk/reward so I short there. Price action soon started to confirm my trade, and got a few ticks in my general direction before it bottomed for the session and rallied with rest of American indexes.... Then it rallied all the way back to my entry, so I took a scratch.. and the session closed....
6B6BTC7.png

As I get ready to trade Asia, I notice my fucking entry was gold...and instead babyraging how retarded the market is.... Why the fuck did it rally all the way back to the same exact entry level, and then SELLOFF. If the market respected a certain area, why the fuck would it need to retest twice before making a move.

I'm just sooo upset I had a good trade in entry and follow through, until of course the idiot market came back all the way back to the same exact entry level, before making its move... FUCK
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What is your exit criteria? Was it met and that is why you exited the trade?
 
fan27 said:
What is your exit criteria? Was it met and that is why you exited the trade?
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well i have this rule called, once the market goes in my favor but then comes back, exit at break even or cover 50% of your profits before goes all the way to 0 or negative....
This trade even though entry was gold, turned out to be a scratch because it never moved as I anticipated it will. Hence I didnt even get to perserve profit because it barely meet my minimum target/profit level...

It just went all the way back to my entry. Then AFTER HOURS, it sells off hard due to "news" which I call bullshit, market had probabilities in play to see some selling.
 
and this is bullshit because I'm obviously not gonna chase NOW. to get short. I had the trade, with an amazing entry.... but market decided to retrace 100% of its move before starting the big sell after hours.
 
fan27 said:
What is your exit criteria? Was it met and that is why you exited the trade?
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Similar to Belgium vs Japan game in the world cup, being up 2-0.... a hard lesson is when ur up never let that 2-0 becomes 2-3.
THAT is why I exited... And if it comes back 100% of a particular "Key" level, it usually goes beyond that level....99% of the time. This 1% it tested same level twice before selling off after hours due to "news" LAUGHABLE
 
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