After a small loss and small profit, I faced a new chance for a downside trade. It worked into my favour and went quite well with my theory, but I've made a big mistake!!! I put in the SAME profit taking price as my buy-in market price!! This is absolutely unforgiving and what a casual mistake!!! Damn it!
Fig. 1: same prices of profit taking and current market price.
Another thing which is worth noting for this downside trade that the triggering point to open the trade is before the closing position of last trade. That means the current trade is overlapping with the previous trade. I was still hesitating for opening the current trade. But after I thought thoroughly, every trade is likely and contains certain likelihood to be profitable according to my thesis, I still insisted to open this trade. Finally, the outcome is good.
Fig. 2: overlapping trades.
Fig. 3: Final result.
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