This trade helped the account hit a new high. The 1000u path to break even has made a bit of progress.
Let’s review this trade. There are many areas that could be improved—first, the parts that were done well.
Entry:
1. The daily K is above the Vegas channel (bullish trend).
2. A converging triangle breakout with a pullback entry.
Stop loss:
1. Below the important 30-minute low.
Take profit:
This time, I didn’t do well in the following ways:
When I opened the chart and saw the sudden drop, I took profit immediately at 47. Clearly, my mindset management is still too poor—I was a bit anxious and didn’t follow the system rules.
I know it would test the earlier high at 49, but I just couldn’t hold on. Moving the take profit would effectively be set below the move-start point as well; the reason I didn’t is that the distance was too large, and I was too worried. Otherwise, this time the returns could have been doubled compared to the current level.
Changes to make based on the above:
Next time, if there is a large-bodied K-line, move the take profit to the 65% position of that K-line. Even if the profit retraces, just hold onto it—don’t panic. Keep the mindset steady; there are too many opportunities in the market. Always remind yourself not to worry.
Let’s review this trade. There are many areas that could be improved—first, the parts that were done well.
Entry:
1. The daily K is above the Vegas channel (bullish trend).
2. A converging triangle breakout with a pullback entry.
Stop loss:
1. Below the important 30-minute low.
Take profit:
This time, I didn’t do well in the following ways:
When I opened the chart and saw the sudden drop, I took profit immediately at 47. Clearly, my mindset management is still too poor—I was a bit anxious and didn’t follow the system rules.
I know it would test the earlier high at 49, but I just couldn’t hold on. Moving the take profit would effectively be set below the move-start point as well; the reason I didn’t is that the distance was too large, and I was too worried. Otherwise, this time the returns could have been doubled compared to the current level.
Changes to make based on the above:
Next time, if there is a large-bodied K-line, move the take profit to the 65% position of that K-line. Even if the profit retraces, just hold onto it—don’t panic. Keep the mindset steady; there are too many opportunities in the market. Always remind yourself not to worry.
