Dear All
Too many queries regarding what trade I took and what all trades I did not take. Kindly note that the trades that I take, the underlying premise is mentioned on the chart itself. Otherwise, question can be asked at every bar, why was trade not taken there. It will not be possible for me to explain the underlying logic of not taking trades. Please note, if I have not taken a trade it might be because of the following reasons:
- I am a conservative trader, I do not jump onto trades the moment they start taking shape. I usually wait for further confirmation.
- More often than not I will avoid BO trades, unless there has been BoF of minor/major pivot before that or consolidation of price before BO.
- Immediately after a strong move in a direction I am not comfortable in taking BoF trades in the reverse direction, unless the strength in the prior move has faded.
- I will stay out of the market if the direction is not clear to me. Even if that means missing out on few good setups.
- I might not have read it that way. I commit so many trading mistakes during the day. Not reading charts properly at times, jumping onto trades, leaving too much on table, exiting at wrong places. I do fail to read the price action correctly at times.
I’ll reiterate, if I have not taken a trade it can be because (i) waiting for more confirmation (ii) Avoiding BO trades (iii) Not trading against a strong move (iv) Direction is not clear (v) I am not able to read the charts at that particular moment.
Will appreciate if lesser queries on ‘trades not taken’ are posed, will be difficult with my bandwidth to answer them all.
Happy Trading!!
