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YM 8/12/13 (5 pts)

Monday, August 12, 2013 19:06

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No regrets on this trade, I had an original target of 22 pts, that may sound like a lot but it really isn’t. 22 points would have been just under the pivot point. I don’t want to call it fear that got me out of the trade but past experience with long trades that take this long to develop with candle wicks this long typically do not end well for my style of trading. I’m content with 5 pts, it could have easily been -10 pts or more if I allow myself to get sucked into the market.

Of the hundreds or thousands of trades we will take as a retail trader, success will ultimately be determined by the sum total of quality trades we take minus the bad trades. Trading is not rocket science, if it was, the engineers would be dominating the market.

Source: http://www.trincafe.com/2013/08/ym-81213-5-pts.html

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