A losing trade does not automatically mean the trader made a mistake or the trader used too little information or chart technial analysis.
However, in this case you were trying to catch a reversal from a downtrend into an uptrend. This can succeed dramatically with a strong rise in prices over a very short period. Statistically, reversal trades usually fail. I think the price level for your stop-loss was sensible. However your take-profit price level is in clear blue sky and seems based more on your optimism more than any TA.
This is very important. And in addition to what tommor said, I want to point out that you had a nice unrealised profit, about what you risked. It was your management on this trade, that made you a loss.
I agree with the CHoCH. I’m not sure if you entered at the CHoCH breakout or the after that small pullback but you might have entered a little too early.
Market structure wise, you’re watching the correct components.
Exactly what we were all thinking, I’m sure.
Exactly what we were all thinking, I’m sure.
Your “R” is far too high: I really doubt very much indeed whether any retail trader has ever traded profitably, over the long term, with a reward-to-risk of those proportions.
You keep asking the same question, and all the experienced traders who respond keep giving you the same answer.
You come across as maybe someone who’s been fed misinformation about reward-to-risk so consistently that the misinformation’s become a belief. If so, it’s going to prevent you from trading profitably until you give it up and/or learn different things.
No criticism implied at all. We were all once where you are now, and are trying to help, whenever you ask.
But the answers (from the people here who know what they’re talking about, three of whom have already replied above) aren’t going to change.
There are two big things for you to learn, here (in this order of importance):
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You need to trade with a much, much more realistic “R”
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It doesn’t follow that you’ve done something wrong because a trade loses (although, in fact, with the examples you’ve asked about so far, you have, and what you’ve done wrong is explained in point 1 just above)
After that small pullback
So I was maybe early enter?
Thank you for the market structure feedback <3
After the CHoCH, this would have been were I would look to enter. It didn’t quite reach the zone but that is my zone even if I miss the trade.
My entry was on that levels ?
