Disliked"A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul."
J LivermoreIgnored
I nearly added another short on Friday...had the pending order ready to roll, but thought better of it. Would have broke my rule on a daily loss %. Took the loss and played another day.
I've been trying something recently that I read a while ago: If you play "zones" of any sort...Supply/Demand, Support/Res...whatever you want to call them, but NO MA crosses, or OB/OS indy entries... How do I explain this..?
On Friday, I was going to let a Short order trigger at 1.0453 on Aussie while price was moving up. If it filled, it would have run me over (even worse). I didn't let it fill, but what you do is allow price to go above, and then place a pending order right there for when it comes back down. A chart...
Still experimenting with it...reduced lots. But...if I still like a zone...its been working OK. Anyway...I found it an interesting approach, maybe someone else will, too.
EDIT: Typo in chart at top left: REST == RESET