Need help understanding what went wrong

#1

I now realize that many of my losing ETX trades lost because they were against DR or trading into a wall, but this trade I’m not so sure about:

Does anyone have any insight why this trade may have failed? (Looking at later bars, I can see that this was a ranging market but it wasn’t so obvious when I placed the trade).

Thanks!

#2

Hi Doug, I looked at it with replay and with the latest toolkit and TA, and it did not give me a long arrow, I am guessing because it detected possible coil chop, otherwise it looked like a good potential long trade.

#3

Why did you get stoppee at that price since the long trade stop should be below the bar?

#4

Hi Doug,

It is always good to show more of the chart.

Where was you stop and target. From your image it looks like you should have hit a 7 tick target. As Darrell said, the stop rule is to have the stop at least 1 tick below the low or below the OP if it is below the low of the bar.

Hope this helps Garry

#5
#6

got stopped out again.

#7

This chart begins at the entry to the trade. It is also not a Markers Plus chart. The decision to enter a trade is important and you want to stack the odds in your favor. After you enter the trade you need to know how to manage it once it does not move immediately in the direction you anticipated. Knowing the reasons why you took the trade can help you manage it. Where you enter a trade is equally important. I hope this marked up chart is helpful.