Almost a trade

Today is 22nd of January 2020 and this time last year I was entering my 6th month of trading as a serious undertaking. And exactly on this day the year before I was writing in my journal that I need to check out Cred’s trading manual. The main thing being that I was frustrated leaving winners transform into losers.

Today’s story is not about a winner nor a loser but about the third situation, the most frequent and the least talked about which is a missed trade.

Short story of price is that after a run up we just had a violent breakdown and now price was settling in a nice range waiting to break to either side. This trade plan was a very simple one and it had been made 2 days before. Essentially waiting for price to take out previous swing low created by the breakdown hitting 2 levels that were deemed important and then if price would reverse than enter long with first target range high.

I got the alert as prices was hurling down and was waiting for the spike which stopped short of hitting the swing low and then violently reversed taking out what I presume to be breakout short sellers.

Moral of this story is that as a trader you experience this situation far more often than any other situation.