After that disaster on Thursday, I have now another line on my trade system.
1 - Make sure that no one, absolutely no one other than you are on the trading room.
2- Do not open the door.
3- Do not answer the mobile.
Now on Friday this is what happened:
Point A entry and 10 pips loss. Well the semafor was there, the audible take trade was there, the within 20 pips of the daily high was there.
So, what was wrong? Nothing. Yep, nothing, the last bull candle was too strong and had loads of momentum. Even with a litle retracement, it was not enough to hold those BULLS... A case to say mmmmooooooooo.....
Second trade B, I enter earlier. I knew I could not hold those Bulls, but I could just take 3 to 5 pips. And that was what I took, about 2 pips.
I than, waited, because i saw that, that was a [glow=red]Train full of Bulls[/glow], again, mmmooooooooo....
And it would last longer than I expected, by about 12 or 13 it will be over.
Of course there was other moments I could get in, in hindside yes, but at that moment I couldn't get in because I was just waiting for a bog movement, and those weren't.
At about 12, I said to my self, it is about this time that the train will be stoped and bulls out, and BEARS in.
Since price made appear 2 Semafors 3 in the 20 pip zone, I though that was it. I waited until prive could retrace. Which did 3 times, and at the 3rd time that the audible sound alert showed go short at the same price level, I whent short.
On point C is where I was taken by price because I had a trailing stop. Well I got 9.6 pips. Price did reverse to my entry, than gone all do way to heaven. I would be in heaven, But why didn't I enter?
Isn't it rule that we enter when price is within 20 pips of the high? That is price must be between 0 and 10 pips from the daily high.
Am I correct?
I wanted to go in, but I said "For Once Follow The Rat Rules, 20 pips fro the high".
You can see better on the M5 bellow. You see far more things on M5 than M15 when price is moving.
Take a look.
Well, I don't regret the trades at all. After all, I left some money on the table for you red rat fellows at kreslik.[/glow]