Yuppy
Entered a pending sell last night on the last signal, which was stopped out (pic later).
Update: Pending stop-and-reverse (SNR) triggered in early Asia.
Update: Trade is not looking great, about -75 atm. Moved SL further below as I realise a massive kumo flatline on Daily TF. Added a last chance trade 25 pips above stop.
Update: Stopped out again, argh! Total of -180pip loss. White hot anger. Angry because I'm thinking about the dollars, and not focusing on the right thing: process. Pegs me back to just under breakeven for the week.
I'm not going to trade the immediate sell signal generated. I'm psychologically on 'tilt' at the moment, so best I walk away before I do something stupid like commit a revenge trade.
Review: The 1st trade was technically fine. But the 2nd trade should not have been taken, because the price did not show a higher or flat bottom structure.
I have to also point out at this moment that, had I taken the sell signals on Fibre since the first one @ 3616, the current net profit would be in the region of 1400 to 1600 pips. Sonaofbitch! Again, trader's fault (I was so happy getting out with +240 on Fibre yesterday night, now look - I'm a net -0.14% loss for the week).
But this shows the potential of trading point and figure.
(And surprisingly, putting pen to paper assists in taking me off 'tilt'. I can feel my emotions ebbing already, but I'll still need to walk away and refocus.)
Cable and Fibre
Took first buy signals with system stops. Cable is shaping for a 2nd reentry potentially, so I will set up a pending order there.
Update Thursday 12pm: Both trades are in deep drawdown. Fibre's flashed a sell box but did not take out the SL. In reviewing the trades, Fibre was appropriate, but Cable should not have been taken because the price structure was not showing a flat or rising bottom.
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