NMDC: Hindsight Analysis: Loss Trade
A good example of a trade where we followed the rules but still hit the StopLoss.
That's why "don't put all your eggs in one basket".
NOTE: There can be other ways of entering an exiting. However, the idea of sharing the instructions is to understand that it should be possible to trade with fixed set of rules. Some trades make huge gains, some don't move much and fewer make losses as well.
Not a "Holy Grail Technique"
A Higher High Higher Low structure on price action is considered as an uptrend.
- In the weekly chart, identify the first break of Higher High.
- Wait for Higher High retest and enter somewhere close to it.
- Cannot expect a stock to test the exact same value.
- Set SL as previous HL or in cases where there are other lows close by, choose the lowest one.
- Calculate the possible loss assuming the stock hits SL
- If you are OK with the calculated loss, enter.
- Trail the SL at every new Higher Low.
- Wait for breakdown of a Higher Low OR Target
That's why "don't put all your eggs in one basket".
NOTE: There can be other ways of entering an exiting. However, the idea of sharing the instructions is to understand that it should be possible to trade with fixed set of rules. Some trades make huge gains, some don't move much and fewer make losses as well.
Not a "Holy Grail Technique"
A Higher High Higher Low structure on price action is considered as an uptrend.
- In the weekly chart, identify the first break of Higher High.
- Wait for Higher High retest and enter somewhere close to it.
- Cannot expect a stock to test the exact same value.
- Set SL as previous HL or in cases where there are other lows close by, choose the lowest one.
- Calculate the possible loss assuming the stock hits SL
- If you are OK with the calculated loss, enter.
- Trail the SL at every new Higher Low.
- Wait for breakdown of a Higher Low OR Target
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