Analyzing a Loser
From news_archive.php?id=68943
I jumped the gun on a trade today in that I went w/ a 3 minute chart instead of the 5 min I should be trading. Had I waited for the 5 min trigger it would have put me in a winner, and as it was I took a loser. Not only did I jump on the 3 minute but I was slow to exit also. I marked the chart w/ an "S" for my sell and a "C" for my cover. I also took the trade even though the 15 minute was telling me to wait. I suppose it was worth it to get nicked like that to remind me that the 3 minute chart is not in my trading plan. I'm always fascinated when I find a way to fudge the rules like that. I used to get angry but ...
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