That Was Not Good, 15th November 2022
🖼 Daily Technical Picture 📈
➤ It was looking good for my Bullish position until the final hour of trading. Then things went sour. Prices reversed course. That Was Not Good.
➤ It was not good for two reasons:
➀ My fear of being taken out by choppy conditions has materialised. Exit signals were given. That meant I had to cut most of my positions at market close. Overall a set of break-even trades. Not disastrous but very disappointed with giving back profits.
➁ Price action leaves the market in "limbo", at least in my view. It was not a sufficiently strong reversal to give a short signal. That means price can maintain its Bullish stance but without my participation. A case of Fear of Missing Out (FOMO).
➤ At the end of the day, it was good to stay disciplined and not second-guess my process. Wavering on decisions and letting emotions get in the way will lead to inconsistent behaviour and erosion of confidence. Eventually, that will lead to disastrous results.
➤ I hold a +8% long exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Looking forward to the next set of trades that are just around the corner.
➤ It was looking good for my Bullish position until the final hour of trading. Then things went sour. Prices reversed course. That Was Not Good.
➤ It was not good for two reasons:
➀ My fear of being taken out by choppy conditions has materialised. Exit signals were given. That meant I had to cut most of my positions at market close. Overall a set of break-even trades. Not disastrous but very disappointed with giving back profits.
➁ Price action leaves the market in "limbo", at least in my view. It was not a sufficiently strong reversal to give a short signal. That means price can maintain its Bullish stance but without my participation. A case of Fear of Missing Out (FOMO).
➤ At the end of the day, it was good to stay disciplined and not second-guess my process. Wavering on decisions and letting emotions get in the way will lead to inconsistent behaviour and erosion of confidence. Eventually, that will lead to disastrous results.
➤ I hold a +8% long exposure. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Looking forward to the next set of trades that are just around the corner.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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