Word for the day: Contradiction
I learned today that it's extremely easy to talk yourself out of trades especially if you disagree with advice you are receiving from others. In the trader chat room I was in they were talking early on about trading the edges. The chart that I have posted is going to help explain this. Click to view chart
Points 1 and 2 on the chart indicate the bottom edge. Basically if it breaks lower than that look to sell but most likely it will bounce off of that which it did making for a good buy.
Pointe 3 represents the start of a great parallel trend. This point represents what I thought would have been the best trade of the day. The exit point would be at point 2 when it reached the top edge and eventually broke out of the trend.
I say contradiction because I found many reasons not to do this trade. I actually got into the trade too early and exited too early but did break even.
As a beginning trader I think it is going to be a long time before I trust a trade and myself.
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