Price is at HTF value are to short from.
MTF closed below EMAs. LTF BOSed Market Structure.
Good for short.
Order set @ 92.017 with 23 pip stop @92.237
MTF closed below EMAs. LTF BOSed Market Structure.
Good for short.
Order set @ 92.017 with 23 pip stop @92.237
Trade active:
Tagged in at 92.017.
1:1 target set, and overall target set.
1:1 target set, and overall target set.
Trade closed manually:
Out for -0.42.
Early close as 15M failed to do what I like.
Cutting the loser short in this case.
Early close as 15M failed to do what I like.
Cutting the loser short in this case.
Comment:
It obviously can turn around back into profit from here.
But from my experience I like simply getting out at these spots as that saves me way more psychological capital in the long run.
Winning trades often go in my favor with decent 15M closes almost immediately, and losing ones don't. So when price doesn't - I assume it is a losing trade in the long-run anyway. Therefore, I am okay with price ocassionally 'proving me wrong'.
Also, the USDJPY may also give us a trade, and EURUSD too.
On to the next one.
Lightwork_
But from my experience I like simply getting out at these spots as that saves me way more psychological capital in the long run.
Winning trades often go in my favor with decent 15M closes almost immediately, and losing ones don't. So when price doesn't - I assume it is a losing trade in the long-run anyway. Therefore, I am okay with price ocassionally 'proving me wrong'.
Also, the USDJPY may also give us a trade, and EURUSD too.
On to the next one.
Lightwork_
Comment:
Upd.
The way price is looking right now - is precisely why I have these early exits in my plan.
Experiencing a move down (which would give me hope that it is reversing) and then a move back up would tune up the emotional volatility so unnecessary.
Instead, I simply got out and removed myself from these emotional oscillations.
Let the fish get destroyed, meanwhile we regroup and wait for a new opportunity.
The way price is looking right now - is precisely why I have these early exits in my plan.
Experiencing a move down (which would give me hope that it is reversing) and then a move back up would tune up the emotional volatility so unnecessary.
Instead, I simply got out and removed myself from these emotional oscillations.
Let the fish get destroyed, meanwhile we regroup and wait for a new opportunity.
Comment:
Upd.
And just like that we saved 0.6. Early closes are very profitable both in money terms and in psychological capital terms.
And just like that we saved 0.6. Early closes are very profitable both in money terms and in psychological capital terms.
Lightwork Trading
Waiting for 15M candle to make a decision on closing early.
11 minutes.