One last loss for today. Couldn't hold onto it any longer. Mentally drained from all the losses today and misses.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-12-22 12:48:52 | SM | sell | $37.750 | short |
2014-12-22 12:48:52 | SM | sell | $37.750 | short |
2014-12-22 13:15:46 | SM | buy | $38.000 | 0 |
Yeah you're right. I have a problem with patience and FOMO. I want to be in it before it happens and a lot of times for me it doesn't happen. I need to work on patience for the entry and better setups.
Thanks for the input.
I feel your pain cuz I have a problem with fomo on my entries too. I think I'm getting better but can still lapse. A couple things I'm doing is trying to make sure I have an identifiable setup that we were taught and list it on my trade.
If I didn't I call it out as such and tag it as "NS!", my code for NO SETUP!, I also have been looking at a lot of other peoples trades and seeing if I can ID the trade they took, or confirm it if they did (a lot of times people get The details wrong-and hence are not trading the setup they think they are) All this checking of the setup tho is starting to ingrain them into my head, and I am slowlyyyyyy getting better at my entries.
hope this helps-good luck-happy holidays!
It was stuck in a range. Notice how the range started getting tighter and tighter creating higher lows=bullish ...http://screencast.com/t/VhQkEN0270
@Nape - Yes, flag pattern but also lower highs and higher lows so price could have swung either up or down which is why we needed to wait for confirmation of the break.The pattern could have been a bear flag also.
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What was the short pattern? Should have waiting until price broke below 37.5