josi wrote:Fri May 08, 2020 3:17 pm
turns out you traded a countertrend pullback in an uptrend market
(what was then still a range - my last message!)
So this is how you take hold of the "whole pie" in swing trading.
But as you wrote "by the time a trend is clear on a higher TF it is almost over" - well, just look at it (while you were once again caught on the wrong side of price movement riding the FOMO ticket)
You thought market had to turn (YOU WANTED it to turn) but it didn't (wich isn't extremely surprising because that's exactly how the big players make their money - get people trapped who enter to early etc)
At least you had the sense of getting out - but, of course, you still haven't explained a thing.
Why did you think the market would turn - although there was (at the time) not enough evidence for that theory (break of lower lows etc)?
Why were you so surprised by the market continuing its way up that you missed the trade)
You saw resistance and your repainter told you (the market would turn).
This isn't a trading journal anymore: zero analysis of trades; no explanation of what went wrong and why, and of what went well and why etc and most important of all - on how to improve the setup after every new trade.
The honest analysis after the trade is much more important than your entry, TP and SL which you only take seriously until you don't.
Dear Josi ...
I don't have the opportunity to reply to your messages through private correspondence, because you have banned private messages, so I will answer here ...
I am currently testing a slightly modified system. I didn't go out of sales because the system didn't give me a signal. Which one, sorry, I will not explain. This happened due to a rare and interesting situation, when two timeframes M5 and M15 coincided and overlapped completely. During that time, while I was observing the system, I didn't see such situations. Differences, even small ones, were all the same. Of course, I don't argue that the observation period was very short, and I suspect that I haven't seen so many surprises. But on the other hand, I want to try the system in real trading. The entry to position, in my opinion, was quite successful.
Regarding the trend at higher TF's... At H1, we have an upward and very tired trend, which can change at any moment. It could have changed yesterday, but this didn't happen. In principle, I didn't expect this. I was waiting for a signal to close a position or a reversal, which didn't follow. Yes, the situation is interesting, strange, and I haven't yet studied it. But the trend on the higher TF is not necessary here. I’ll tell you honestly, you can believe me by word, especially since I haven’t deceived anyone here yet, today I analyzed this situation. For comparison, I opened the Dow chart, and as you know, the correlation of these instruments is very high. So, there was a VERY CLEAR signal for closing sales and even more so, entering buys. On the SP500, the system didn't give it. Maybe if yesterday I guessed to take a look at the Dow, I would have closed the sale. But on the other hand, what if the traded instrument does not have a twin brother to look at? So far, this moment has not been decided by me. It is possible that from time to time such situations will have to be reconciled. The only question is how frequent they will be ...
Now about why I missed the deal today ... The reason is not at all that I was sure or not sure of something. I'm never sure of anything. The reason is simply that I can’t be online in front of the monitor 120 hours a week. I once sleep, once I eat, once I do other things in life. I placed a pending order, but the price did not return to it.
About my journal ... I’ll tell you and everyone who reads this thread honestly ... I am writing here what I consider necessary and possible to write. And if I didn't write something, for example, an analysis or work on errors, this doesn't mean that I don't. It's just that I'm not writing here everything that happens in reality. But it is in this mode that I am now leading this thread and this is my decision.
And for the future, if you want to write something to me, then either open your PM or write directly to the thread so that I have the opportunity to answer you. If you don't want to be answered, then probably you shouldn't write.