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Emini trade on 8/20 5 min chart
Al often says, if you do something reasonable, the market can be forgiving and let you get out break even. Was it reasonable to sell the close at bar 20 of today 8/20 emini 5 min chart? Is it reasonable to think the market would get back there without having to scale in for break even? Or since 21 was disappointing, is that the point you should get out. I seem to get out of trades too early so working on that.
With the move up to 18 being that strong, most likely the MKT was going to enter a TR and not a reversal down, specially with 17 bad SB for bears. With that in mind, selling 20 was selling far below the high or, in other words, in the bottom half of the developing TR (TR bottom candidates were 15L and 7L), so you should not sell there.
But, if you did, better to get out quickly on dissapointment (if you enter on a BO, you should sense urgency). 21 was dissapointing, tho not a bull bar, but 22 was definitely bad (DB for the bulls) and 23 was caused by bears rushing to the doors, so you should have also exited above (it was a great buy).
Even if you think, when you are taking it, your trade is reasonable but then you see dissapointment followed by several bull bars closing on the high, the MKT will not come back to your entry price.
Today, had you sold more below 34 you could have exited BE on 44 but we all know this is just the theory, and trying live is a completely different story so better (= cheaper 😀 ) to learn to spot early when you went wrong and exit.