Thought I would post the completed trade that I recently done on QBE. The trade wasn't great but I did take a profit and my stop was tight due to seeing QBE falter at a high resistance area and also I was trading against the trend. I had a defined initial target area. I have recently started documenting my trades for future reference to help fine tune my trading.
Gone are the days for me trading without a plan.
I have showed initial entry and were I got stopped out. My initial stop not shown was just below the low.My entry reasons you can see on the chart I also had weekly divergence using RSI2
I have posted this to show new traders that you need a plan to try and take the emotion out of trading.It has taken me 2 years for this to finally sink in. Hopefully a few can learn from my mistakes.I have a few stocks that I call my dogs because I brought them with no plan. I look at them everday to remind myself of what happens without a plan.
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