This Trade Is Making Me Uncomfortable Normally, I’m sure of my trades. When I feel uncomfortable about a trade I normally don’t take it and most of the time that’s the trade that ends of making me money. However, when the trade loses I feel vindicated, but that’s a false feeling.
Van Tharp taught a trader should write down our beliefs. I’m doing that.
Mark Douglas taught traders to take every opportunity or else they end of creating false trading data. So, I have to trade even when I’m uncomfortable.
So, now I have no choice but to find where this feeling is coming from. Let me explain:
The 4 hour timeframe reversed this week and has now made two lower lows. I see this as price telling me to sell using my downtrend TMP strategy.
What makes me uncomfortable is when I look at the 12 hour and daily timeframe, to me, price is still pushing up. I hate when my timeframes are off this way, but it doesn’t mean the trade can’t work out.
Keep in mind, I’m not writing this post looking for answers or for someone to clarify this for me. I’m writing this to get my thoughts and feelings out and to push myself to trade the opportunity regardless of my feelings.
So, am I in this trade?
Yes! I have to be. It fits my rules to trade on the 4 hour timeframe. What makes me feel a little bit better about being in it is I decreased my position size. Recently I increased it and it has paid off, but a trade where I know my feelings are involved, I’d rather decrease the size, take the trade because it fits my setup, and let the trade play out.
Who knows, I could win. If I lose, I can live with the small loss and setup for the next trade.
Let’s face it, if we let out feelings get in the way of every trade we’d be holding ourselves back, right?
This is the trader side in me sharing my thoughts and feelings. Most people won’t do this. I understand why, but sometimes letting the ego go to be real with yourself can help you more than making it seem like you have everything under control 100% of the time.
-Happy trading my friends
