Got it. Thanks for keeping me honest. 
jasinhbca's quest for discipline, knowledge & profits
- Thread starter jas_in_hbca
- Start date
I know why I missed that trade yesterday. It's because I missed an entry signal a few minutes prior. I have a habit of passing on continuation entries after I miss an entry. Maybe it feels like chasing, maybe it feels too late, IDK and doesn't matter. I do know I do this and I need to remember to let go and re-focus.
See if I'm understanding
First an aside
Good trades usually come with multiple signals - but that doesn't mean they can't puke
=====================
You..., for whatever reason.., missed the initial signal..., then a subsequent signal materialize
If the initial signal taken - you'd place your stop accordingly (just behind it)
However
If the 2nd / 3rd signal is taken - would you adjust the stop placement accordingly... (just behind the 2nd or 3rd signal..., depending on which you took)
Or would you still place the stop just behind the initial signal
You said yesterday "within the context" - which is what I take this to mean - stop would still need to go just behind the initial signal
=================
Now this is not a straight forward as it appears
The bigger question - where is "this" trade invalidated - not the initial signal's trade..., but the trade you're contemplating taking right now
Just behind the initial signal..., or somewhere else
===============
It could very well be - that you would be chasing - and increasing risk - by doing so
or
It could be the PA has evolved into an somewhat different trade - and placing the stop to just behind the 2nd..., or 3rd signal (depending upon which you entered) is appropriate
===========
This really needs thought through before making a blanket decision on how to proceed - imo
Letting this one go - may be the right answer - as much as we may not like it
What you thinkin
RN
First an aside
Good trades usually come with multiple signals - but that doesn't mean they can't puke
=====================
You..., for whatever reason.., missed the initial signal..., then a subsequent signal materialize
If the initial signal taken - you'd place your stop accordingly (just behind it)
However
If the 2nd / 3rd signal is taken - would you adjust the stop placement accordingly... (just behind the 2nd or 3rd signal..., depending on which you took)
Or would you still place the stop just behind the initial signal
You said yesterday "within the context" - which is what I take this to mean - stop would still need to go just behind the initial signal
=================
Now this is not a straight forward as it appears
The bigger question - where is "this" trade invalidated - not the initial signal's trade..., but the trade you're contemplating taking right now
Just behind the initial signal..., or somewhere else
===============
It could very well be - that you would be chasing - and increasing risk - by doing so
or
It could be the PA has evolved into an somewhat different trade - and placing the stop to just behind the 2nd..., or 3rd signal (depending upon which you entered) is appropriate
===========
This really needs thought through before making a blanket decision on how to proceed - imo
Letting this one go - may be the right answer - as much as we may not like it
What you thinkin
RN
Last edited:
I prefer closer stops and a re-entry if needed. Thus I would place the stop based on the second signal which, in this example a short, would be below the stop of the prior signal.
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My discipline taking trades was good today. Even the 'uncomfortable' ones felt fine. Exits not disciplined enough. The uncomfortableness (that a word ?) in holding needs improvement.
+. 50 today
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My discipline taking trades was good today. Even the 'uncomfortable' ones felt fine. Exits not disciplined enough. The uncomfortableness (that a word ?) in holding needs improvement.
+. 50 today
Yep, thanks. Still hard to getting trading off the mind. Been thinking good thoughts and mentally reviewing set ups today. Patience, execute, manage. WRR
I'm just there to trade the plan
I'm just there to trade the plan
Thanks, slugar. And you as well !