Trading Pattern Failures
- Thread starter fan27
- Start date
Hi fan27,
I see on your charts Bollinger Bands, a price moving average, MACD and Stochastics...
You didn't mentioned anything about those indicators.
Therefore, if your not using them...why are they there?
If you are using those indicators...shouldn't there be rules about using them also?
My point...because you have them on your charts...those indicators will plant seeds in back of your mind to determin how you manage your trade...
Good or bad.
Therefore, you need to have rules for them so that you can manage your indicators.
NihabaAshi
Trade 3 exited at 1125.00. I had my stop order at 1125.25 (with IB). When the price was hit at 4:14 pm it didn't execute. I had to cancel it and exit at the market.
At one point I was up 4.25 pts on this trade. I was going for a bigger move but the market had other plans. This part of my exit strategy that needs some work (Target is not hit but you still have a nice gain). Any suggestions would be greatly appreciated.
At one point I was up 4.25 pts on this trade. I was going for a bigger move but the market had other plans. This part of my exit strategy that needs some work (Target is not hit but you still have a nice gain). Any suggestions would be greatly appreciated.
Can you scale out of your position, this of course means you will need to be trading more than one contract. If you are only trading one contract then maybe take a look at trading stocks so that you could scale out of them. I think if you are trading just one futures contract at a time then you have to be an exceptional trader to be profitable, I think most successful futures traders trade multiple contracts and either scale into or out of a position dependant on their trading style.