Monday, February 8, 2016

Patience did not work today - Day Trading: Feb 8, Intraday

Today was another day when patience did not work. I took a single Long trade today, and booked a loss of 13 points in it - after being that trade for nearly 4 1/2 hours with a Most Favorable Excursion of 36 points. My mechanical Trailing Stop rule did not allow me to move the SL just yet....

This mechanical Trailing Stop rule with wide Stops has been consistently causing me a lot of grief. In January, it did not matter much because I was still earning some points - but in a drawdown, it is a different matter...

Nifty M3 Candlestick Chart

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