Still practising as digesting Brooks book. Trying a slightly different format today, all annotations on the chart.
Summary: Today demonstrated to me just how difficult following the trend is, despite it being the correct thing to do. Between bars 1 and 2 I was looking for every possible excuse to get long. Trying to make price do a TC overshoot, counting 3 legs down, thinking there might be a significant TL break. But all of these were nonsense. There were no meaningful TC or TL breaks and a trend can last longer than 3 legs. The fact was price was making lower higher's and this was the direction to take and all that mattered!
Summary: Today demonstrated to me just how difficult following the trend is, despite it being the correct thing to do. Between bars 1 and 2 I was looking for every possible excuse to get long. Trying to make price do a TC overshoot, counting 3 legs down, thinking there might be a significant TL break. But all of these were nonsense. There were no meaningful TC or TL breaks and a trend can last longer than 3 legs. The fact was price was making lower higher's and this was the direction to take and all that mattered!
George,
ReplyDeleteI feel your pain on this trade, it's easy to get caught into our own ideas of what we want or think the market should do.
Good trading next time buddy!
Thanks for the kind words Trin. Have a great weekend!
ReplyDelete