It does my followers & inexperienced readers no good by only posting the better trades, so...
I was stopped out this morning on NXM for a 90 basis point loss.
Did not move my stop to break even on the stong breakout, as I often do, as
I wanted to give it a little room. Hindsight is 20/20 and a pointless endeavor.
Technically the Pattern is not completely violated until a break of the lower
boundary, but it is not what I like to see on a trade.
I never place my stops all the way below the patterns.
boundaries (as many do). The reason for that is how it affects position sizing.
Since I have found the best trades to work "hard and fast", the trade-off between
the lost profit potential and the ability to stay in a trade a little longer is a clear
choice for me according to my historical trade analysis.
Will have to sit on the sidelines for now & watch for further developments.
That is the reality of trading, and should be a part of one's expectations.
Technichal commentary only here... no bash at fundamentals & good
luck to all holders.
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