My losing trades - 13 Jan 2025

Trading losses are all part of the journey. Below are the details of two losing trades that were entered into on the 10 Jan which were stopped out today.

Losing trade 1 - Avalanche

After a significant pull back in price I placed a trade using my Heikin Ashi strategy. Chart of the price action and entry details are shown below.

Technically this was a correct trade entry. The chart shows that at entry there had been a colour change then followed by two candles where there were no shadow wicks. Unfortunately this trade stopped me out at my protection point realising a loss.

Losing trade 2 - Chainlink

To understand the wider context for my trade on Chainlink I show the daily time frame chart, which outlines the obvious support level.

When price is at or around support I have a Sup / Res stategy where I look for entries on lower time frames. See the 1 hour chart.

I entered this trade on the bullish elephant bar that sprang off support. This would have been an acceptable trade had it not been for the obvious resistance to the left. I am not supposed to enter any trades where there is any immediate resistance to the left. The result was a stopped out trade. I am grateful that my poor trade entry was not rewarded. The worst thing that can happen to you in trading is being handsomely rewarded for trades that are entered against your own rules.

Trade Clearly!