18-Jun

Having a plan but not following it – Long DBRG by Nikolas D

Whenever a Spiker loses more than 7% of their account in a week, they have to write a Lessons Learned report. Here, Nikolas D describes his misstep…Recently I changed my entry technique from the % average overlap which is a bit lazy and sometimes caused big drawdowns before moving into gains territory.I decided to wait for the first 30 minutes and buy if that bar is in my favor or a neutral blue. A stop-loss at a distance of 0.75 ATR is usually adequate after such entry. I even pinned a note to my screen “DO NOT RUSH TO ENTER 09.30-10.00.” I used that plan a week ago, and it worked.Any plan can sometimes miss an entry if the stock moves fast in your favor and of course sometimes a stop-loss can be triggered. But that reduces drawdowns and makes me feel more comfortable.

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