This is my first trade of the day in the quiet Asian market hours.
This are my entry bases:
1. Momo bar formed
2. Price (denoted by Green bar) retraced but pinned off
3. I waited for another red bar to close
4. Both green and red bars closed below yesterday's low.
Having lost for so long, I didn't have the courage to hold till the next 50% fib level so I exited with a very tiny profit
Your suggestion on how I can do better is most welcomed.
You can have a small win, small lost or huge win. I condider a small win the same as a small loss. I had the same problem but what I noticed was that when I closed my trades price would end up going my way. So I always take a stop or take a profit