Mon msn this pic to my shifu. Fri DJ hit TP.
Spotted NOBLE, bot 750. Rally to 2nd TP 1000.
Miss 3k profits from a setup with -$500 cutloss.
GOT SQUEEZED OUT (lousy trade management):
Bearish double tail candle and STI not following DJ
Double up at 760, fearful although cutloss faraway
Stop watching NOBLE to protect myself whipsaw
Next day NOBLE negate bearish rally to 800
Was already out following only the indices
THE LESSON:
When decide trade a counter, be prepare follow it some time after exit. You never know when price will reverse to the trend you originally trading for. When you finally give up in disgust, the counter will fly (with you outside).
