Hi PMT
Thanks for your post. It reminded me of the need to
make a plan. At the moment I'm without one. Discretionary
trading is dangerous and it sounds like you have just
found out the hard way.
I hope my posts have helped you in the past and I plan
to continue posting because it helps my concentration
and focus on the job of becoming a full time trader.
I too have jumped into new markets and been burnt in the past.
The heng seng blew a weeks profits, aussie200 cost
me a few times, oil was simply above my budget and currently
I am holding speccy green stocks that missed the funding.
I feel and know your pain.
Step back and simplify everything.
Learn one market at a time, pull back your t/f's,
plan trades that enter on orders and take your targets.
It reads like your risk reward ratio was out of whack.
Stops are for when you are wrong. They get you out ready
to take on what the market offers.
How many indicators were you watching? Know one and know
it well. Add more one at a time. I know the ichimoku and
currently I am learning trend lines and R & S levels.
When I put them together I get a clearer picture.
This is why I don't have a plan. I'm in a study phase
and have mostly stepped aside from trading.
Thanks again for your post. Painful but real.
regards paul
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