DO below PDC, initial bias down. IR formed, attempted direct BO above PDC.. BOF happened at BRN swiftly.. stopped out below PDC BO candle. Attempted BOF short of BRN, below PDC.. covered at cost later. Attempted Short as BOF of PDC & FTC above BRN.. stopped out.. couldn't trade TRAP long above BRN, as my daily dose of maximum risk is over.
Trade1: (11:38 candle)
Long at 7791, as BO of IRH.. with initial SL 7784
Moved SL to 7786, below low of PDC BO candle
Trail SL hit; exited trade with loss of 7 points
Trade2: (12:05 candle)
Short at 7786, as BOF of BRN.. with initial SL 7794
Moved SL to 7791, above PDC.. fall not happening as expected
Moved SL to 7784, break even
Trail SL hit; exited trade at cost
Trade3: (13:53 candle)
Short at 7785, as BOF of PDC..FTC above BRN.. with initial SL 7793
SL hit; exited trade with loss of 10 points
Points earned : -17
me to stopped out first two trades....But actually later market given more clarity !!!! by the way How much is the maximum loss/day you defined ???
ReplyDeleteLucky,
DeleteMax Loss per day : 20 points
Max Trades :5
First Trade : when resistance (even this was resistance on yesterday ) was near 7800 why you take the long trade ??
ReplyDeleteSecond trade : When 7800 is resistance , in BOF -- why did not take trade close to 7800.??
Regards
Bharat
1st Trade : There is 7 point gap between entry and BRN.. i thought of managing by moving trail SL to cost.. if BRN resists.. which i failed to do.
ReplyDelete2nd Trade: Yes, it was late entry.. i should have existed 1st trade at 7693 and reverse to shorts.. as BOF of BRN happened.. which is strong resistance yesterday as well.