My losing trades - 20 Nov 2024

The bullish elephant bar off the 200 period moving average is one of my most profitable trading strategies. However, the below is an example of where it wasn't a profitable trade.

This trade was actually opened on the 16 Nov but after 3 days it failed.

Not the perfect set up but the entry itself was correct as per my rules. I say that it is not perfect as ordinarily I don't like to trade off this moving average if it is in a decline, which it was in the image shown.

My reason for taking this trade was because the price action had pierced it before, was rejected and this was a reattempt for price to go to the upside. Further, the overall crypto market was very bullish when I had entered this trade and I believed the risk reward, given the circumstances was balanced and made this a good opportunity.

The main thing for trading is to realise and understand that losers come but to make sure that when we win, we win a lot more than we lose.

The resulting financial loss is shown below.

Trade Clearly!