Did I do it wrong?
Trade 1: Short on Breakout Failure of 7500. I was hoping that it would touch yesterday's afternoon range low - which it did - but there were not sufficient points to lock in profit at that point. After exiting for a loss, I was hoping that it would come back and cover the range again.Trades 2, 3 and 4: Trade 2 entry was below the pin bar after a nice wide range bar. I took the trade even though the momentum was clearly up. So, when the Stop Loss hit, I reversed to Trade 3 long. It broke the Day High with volume, but then started falling. Seeing the fall, I wanted to reverse early, and tightened my Stop Loss to reverse to Trade 4 short. That was another loss.
Trade 5: A breakdown after couple of attempts to break the day high. I was not very confident about the location of this entry, and so I tightened the Stop Loss. Result: It ate my Stop Loss, and then continued its fall. Bad luck?
Did I do it right (but maybe not very right because the exits were wrong)?
Trade 6: Reentered the short. Took this trade even after 5 consecutive losses, because I thought that the previous exit was bad luck.... and if I could take 5 losses, couldn't I take 6? ☚ Reason why I keep losing so often. About the exit, I was conflicted. On one hand, I wanted to book when momentum stalled. On the other hand, I did not want to miss out on a big fall just because I tightened the Stop Loss, like I often do. I finally voted for a wide trailing Stop Loss.Trade 7: Pullback long. It moved, and I tightened Stop Loss to lock in some points, and it got hit.
Trade 8: Price was swinging for a few bars before it broke out. Then, it immediately fell, and I took that entry. for this trade also, booking on loss of momentum would have been a good idea, but I trailed the Stop Loss to a random point.
Trade 9: Price was going up, and I was cursing myself for not reversing Trade 8 at loss of momentum (though I had only thought of exiting on loss of momentum in Trade 8, and not of reversing the position). Anyways, when the upward momentum stalled, I shorted. There were a few points in this trade also, but I did not get much.
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