Wednesday, April 21, 2010

Can't Catch a Break

Took another loss today on one of my reversal setups... just a NASTY head-fake folks. It happens, its the danger associated with these setups and there isn't much you can do about it. I did have one of my new pullback setups today that was a winner, however it was in the 6B so it didn't do much to stem the bleeding in my account.

This week is shaping up to be ugly - but its not over yet.

Trade Results:
2 Trades, 1 Loss, 1 Win
Gross P/L: $-40.00/per


Gump said...

may I ask what type of chart and time frame you're showing here?
And why?
And what's a "6b"?


Matt said...

Its a 5 tick range bar chart. I simply prefer range bar charts to time/tick/volume alternatives.

6B = British Pound CME contract.

Gump said...

That's unfortunate as I can't makes heads or tails out of it being an old classic chart user. I wonder what your approach is and how it would look on a classic chart.