Thanks for the explanations Volpri. Yes, it was long, LOL, but a few comments really stood out for me like this one below.
The buying, and especially in the afternoon, was just relentless. If you're looking for a pullback of a decent size, you're left forever waiting. Then you end up thinking its gone too high without a pullback, so too scared to get in, and are left with no position.
Next comment that ties nicely with this is this one below.
I like it because it covers all the scenarios. If you're scared to get in, you miss out on moves, but usually that fear comes from not being prepared for every scenario. Once you accept every outcome, and know what to do, things tend to fall into place better.
In my own chart review, I am looking for areas where a trade fails after scaling in, and if loading up in the opposite direction also fails. This would entail that the first position should have been held a little longer. We of course don't want to blindly host a losing position, but any time you exit a position for a loss, in my mind at least, it means that the opposite side should now work. If you can't take the opposite side, perhaps it means the original direction might resume. (This is of course taking into account that you're not emotional about the trade or worried about the money. Exiting a trade is sometimes good for your mental well being, but it has no affect on where the market is going)
The buying, and especially in the afternoon, was just relentless. If you're looking for a pullback of a decent size, you're left forever waiting. Then you end up thinking its gone too high without a pullback, so too scared to get in, and are left with no position.
Next comment that ties nicely with this is this one below.
I like it because it covers all the scenarios. If you're scared to get in, you miss out on moves, but usually that fear comes from not being prepared for every scenario. Once you accept every outcome, and know what to do, things tend to fall into place better.
In my own chart review, I am looking for areas where a trade fails after scaling in, and if loading up in the opposite direction also fails. This would entail that the first position should have been held a little longer. We of course don't want to blindly host a losing position, but any time you exit a position for a loss, in my mind at least, it means that the opposite side should now work. If you can't take the opposite side, perhaps it means the original direction might resume. (This is of course taking into account that you're not emotional about the trade or worried about the money. Exiting a trade is sometimes good for your mental well being, but it has no affect on where the market is going)
