Many times and I mean too many times I lost count reminding myself that all the blunders, mistakes errors when "trading" the trend is I got trap in the intra-day and lost my compass bearing on the higher time frames like weekly and daily trends.
Intra-day can be what I call as volume trades and addictive, whereas the higher time frames trades is generally slow and unexciting.
The other mistakes which I end up creating is the "high"and "low" zones of the trend. I am human with opinions and sometime they are right and at times can be wrong. When I walk away with more rights than wrongs, than this build confidence. Such development is TOTALLY dangerous and most of the time I did not properly execute a back up plan in case I am wrong.
Eventually I will be proven correct but I end up missing out most of the trend since the trend against me before it is for me. This is not only financial but mental impact as well.
Going back to the drawing board, the conclusions are
1.We can trade the smaller or shorter time frames BUT don't ignore the higher and longer time frame,
2.Take profits on the lower time frames but place STOP orders on the higher time frames.
3.Take new positions or reinstate with STOP orders on higher time frame after exiting position.
4.IF calendar spread is available, use the different months spread to minimize losses and remove one of the 2 positions to ride the trend. Don't forget to Place STOP orders on the exited positions to reinstate them .Just to protect profits.
5. Remember to analyze the situations, where improvement is NEEDED and CRITICAL ASSESSMENT.
6. The only way to increase the odds is to be HONEST and THINK and IMPROVE and SIMPLIFY
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