Thursday, 11 February 2016

Tales From Trader's Den..




This is a story of a trader who while scalping the dax got preoccupied and stuck with overnight longs in a strong down-trend o_O. A lesson on what to do when u mess up. What would you do in situation like this ?





Quickly moved to check overnight ratess... #nikkei #dax #spx all continuing down = trouble



Went on to hunt #usdjpy short as a hedge but chickened out ( was late in a trade and didn't let it breathe ) closing in the worst possible spot. This mistake could've proven costly... so remember: no fear.


Then decided to keep it cool and think of "next best move" so shorted spx' which was relatively high but got quickly taken out at net break-even..



So went back to #usdjpy and shorted next best pullback.. just to be taken out at net b/e again.. not easy but at least #dax pulled back to entry point...





Since Price Action, Volumes, Correlations were all indicating another wave short I kept shorting #usdjpy aggresively






The rest is history. Both #usdjpy and #dax dropped...


...for -$500 on the #dax and +$500 on #usdjpy...






Dodging bullets live..



All traded live on TJS Live Zello Radio stream.. And this was my only long this week :). Was publicly going short since big Monthly/Weekly levels got broken believing in this bear market. Onto the next one..

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