Thorough examination of this year's first cutoff/sell-off!
Thank you for your hard work.
This is Nobushi.
I just tweeted about it earlier,
and I just cut loss on the euro-dollar I entered today.
Cutting losses itself isn’t a bad thing.
Rather, it’s important to verify the grounds for how you entered and how you exited.
We need to validate the validity of the decision.
Well, to start with the conclusion, after the loss-cut, it reversed neatly and moved in the entry direction...
Now, first is the 15-minute chart
The entry remains as simple as before.
We entered immediately following Wave 2 of Winner.
After a very large move, when a second wave appears, it can be okay to wait for a pullback before entering.
After that, it continued to run smoothly, but...
a rapid drop began.
Of course I placed a stop-loss, so there was no need to panic...
As a stop-loss point, I placed it at the most recent support level that is being watched.
I set it thinking it wouldn’t be a problem even if it fell this far, but...
Today I happened to have time to look at the chart, so I changed the original plan and
I cut losses at the point of the sharp drop.
If there were a clear basis here, for example a contrarian signal from Winner or a new low, that would be fine, but
there was absolutely none today.
Purely a matter of instinct.
When emotions interfere with trading, it rarely ends well.
Many of you reading this probably have had a similar experience...
By the way, the current euro-dollar is stretching as if to spite us! Haha
I hope everyone on the team isn’t making hasty decisions!
Also, I’m looking forward to your trade reports!
Now, there are other reasons I felt I acted hastily in today’s trade.
That is, the movement on the higher timeframes.
On the 1-hour and daily charts, the up-signal is clear, so it was a market environment where taking on some risk was acceptable.
That’s why I placed the initial stop-loss as such, so moving it without a basis wouldn’t be right!
An elementary mistake, but if you can do the basics, profits will accumulate naturally.
Because this is an indicator to break away from “intuition trading.”
I will be more careful in the future.
[Today’s Summary]
・Moving the stop without justification means danger
・Decide in advance whether you will take on risk based on the higher timeframes
・Emotions and gut feelings are unnecessary in trading
・When Wave 2 of Winner occurs and price movement is large, waiting for a pullback before entry is also acceptable
・Cutting losses is not evil
・Trading without justification is harmful
＊Notice
Now, switching topics, we are currently updating Winner again.
If all goes well, it should be released next week.
We will announce the update details at a later date!
As the update comes, the price will go up, so
please be careful if you are considering purchasing from now on.
For those who are already using it, of course, it will be released for free.
Winner Introduction Video: https://www.gogojungle.co.jp/finance/navi/15/17609
Original Indicator “Winner” Public Page:https://www.gogojungle.co.jp/tools/indicators/17623
Nobushitwitter:https://twitter.com/nobushi_fx
