How about some fail trades.

Hey guys. It's great to hear about folks hitting wins. It's no longer interesting to me to hear about win trades, though. I want to hear about your losers. I want to hear about the HRFP set up that looked excellent, but still went the wrong way. I don't think anyone out there is claiming to be right every time the put their money in the market. So let's hear about how you handle a trade that just doesn't work out.

I'll start with one that burned me a little while back. I entered SPY calls on 1/31/2014 at around 2PM based on hourly HRFP, the continued support of the SPY on the daily 100, and finally, the FIRST OF THE MONTH... I was looking to ride this trade back up to the hourly 200.

Well, Monday showed up and there was no pop to the upside. I monitored in the AM until I finally parted ways with my call down about 22%... I was glad I did as the market tanked all day that day.

Anyone else have some interesting fails?

I, for one, am not at all tired of the number of successful trades that others have posted in the past. I am somewhat new to this forum but this has been a godsend for me in my quest to become a trader. And much of the value of the forum is the successful trades of others that can be broken down and studied. It gives one an insight into the mind of those who are succeeding at this endeavor.The value of that is immense. I found early on that if I wanted to learn a skill, it is best to find and emulate someone who is very good at what they do. So those of you who have posted successful trades in the past, please don't stop. In fact, please post even more; I'm sure there are many besides myself that extremely appreciate everyone of them.
As for unsuccessful trades, I believe I remember Gary saying that even the most perfectly set -up trade can go south on you.He also said the best way to handle them is to get out asap and live to trade another day.

funkho Wrote:
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I entered SPY calls on 1/31/2014 at around
> 2PM based on hourly HRFP, the continued support of
> the SPY on the daily 100, and finally, the FIRST
> OF THE MONTH... I was looking to ride this trade
> back up to the hourly 200.
>
>

I do not trade anything close to how you trade but when I look at a 55 chart I can't help but wonder why you bought a call? The 50 moving average clearly shows a down trade. Even the 233 says down. Using just the E signal shows a Put not a Call? what indicators do you use.

I can't post any losing trades.

Today I bought 10 contracts of GMCR @ 9:47 sold @ 11:12. Bought 10 contracts @ 3.90 and sold @ 6.30. I had E on all charts and FP on 55, 34,and 21. ADX high in the 50's and money flow strong.



Edited 1 time(s). Last edit at 02/11/2014 12:30PM by Darcy2.

@tpplayer32 When I first started, I also wanted to hear about people's success. I think that's excellent. It gets you motivated, and I think it's good to see what people are thinking. However, after over 3 years of hearing about people's success, I'm curious to hear about people's fail trades. A losing trade isn't absolutely a FAIL trade. I would say that a failure would be not sticking to the plan that you laid out before you entered. Whereas a LOSING trade would be one that loses money but stays within the specs of the trade.



Darcy2 Wrote:
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>
> I can't post any losing trades.
>

Are you suggesting that your system doesn't produce any losing trades?

I am willing to accept the idea that I am doing something wrong, but it seems like every method I have experimented with produces losing trades occasionally. I think a rock solid method of exiting losers is key to sustained success. This is why I was looking for folks to relay how they handle fail trades.

Before I used this method I won some and lost some and then lost a basket here and there but with the method I have now nope I haven't lost any trades. Not one loss in 2013. Not one last year. None so far this year. I do trade with my S/O which helped my fear because well he is a gunslinger. He hasn't lost any trades either since 2013...and none this year. He and I trade about 2-3 times a week. If you trade a cash account and not margin you can do this.

I still would like to know why you entered a call on SPY when the 55 chart in that time frame was going to fight you all the way? I don't tend to fight strong moving averages especially on smaller charts. If I am going to trade up I want there to be space between my candle and the 50 and 200..sometimes even the 20. S/O doen't look at that he trades simply off the signals he sees. I still hesitate if a candle is out of the BB or a moving average is in the way. He never pays attention to that. In fact because I do he has on occasion passed up some fine trades that I was a little more afraid of. I am working on this fear thing.

So I read out loud Joshua 1-9 "Have not I commanded thee? Be strong and of a good courage; be not afraid, neither be thou dismayed: for the LORD thy God is with thee whithersoever thou goest."

If you are trading longer charts then BCT is the one who can look through your trade better than I and see what you saw. I can only speak for myself.