Last week was a biggest losing week from beginning of this year and the total loss for April. Total loss was 128,99HRK and total loss for last month was 4,82%. I will not talk too much about the trades, but here they are:
What I wanted to talk about in this post, is why I had these losses. So the first reason is more psychological. The market was moving without me and I wanted to enter these trades no matter what. This is one of the problems which I explained in one of my previous posts called The psychology of my trading and what I’m going to do about it.
The next problem with these trades is that I gave too much weight to indicators and not enough importance to price action itself. I entered some of these trades on obvious (and very important) support levels.
This is why I decided to remove MACD and ADX indicators and start practicing pure price action. Another reason why I did that is because all these indicators are lagging. I’m not saying that they didn’t give me some good signals, but when I compared the trades I had until now, I didn’t see that they have some additional value and I would enter these trades anyway.