Missed Trades

m1.png[1] Crude Oil WTI – Watched this on the 1H and 30mins timeframe, spotted the corrective trend and posted on TradingView. Also noted here, that both crude oil were in a very tight tensioned consolidation. Price could break out with an extended move either way, but my bias was only to the upside. Lesson: in such tensioned low volatility areas/triangles, bulls and bears are equal and the break could be to either side. Yes, have a bias for the prior trend to continue but do not disregard the other alternative. Should have placed a sell stop order.

m2.png[2] EUR/JPY – The Euro is currently very strong, as expected and posted here and on TradingView. Prior to this, made a mistake by going short at first. Still followed the price but when it broke out of the falling wedge reversal and retested the TL, did not make the trade. At least I did not chase the markets. But, should have placed a stop order at the break of the corrective wave.

m3.png[3] CHF/JPY – Similar to the EUR/JPY set-up above and still looking for the buy entry. Well at least USD/JPY is still running.

m4.png[4] NZD/EUR – In agreement with the rally of the Euro. A rising wedge reversal which was followed so closely ever since trade 2. Just never made the trade. Should have placed a stop sell order especially since the impulse waves and highs were getting weaker. Perhaps, wait for the pullback, not all is over.

m5.png[5] NZD/USD – Not as significant a miss as the four above. But was still watching the range after the breakdown of the uptrend. A closer attention paid to the NZD might have done the job.

m6.png[6] AUD/USD – Have just been watching this pair ever since it took off. Trend lines have been there from the start, but no trade was made. Might have mentioned about the miss here. And here I am missing it again. Not interested in shorting anymore now. Unless the latest corrective wave forms nicely and could go for a short term trade for one more leg down.


Missing trades that you have been following does take a damper on the psychology. It used to be worse, but I can happily say that I have accepted that trades will be missed from time to time, it’s just part of the game. Accept the fact, get around it and look for the next opportunity. There’s nothing you can do about it. What’s great is that I didn’t chase the markets, like how I would have last time. Definitely an improvement and a huge step forward.

Yes, hindsight is a parasite. However, this were genuine misses. All the trend lines have been there from the start and ideas/plans have been mentioned in previous journal posts or on TradingView.

If I had to define what type of trader I am, I’d say I’m a discretionary swing trader/trend follower looking at the weekly/daily/4H/1H charts.

Finally starting to have an analysis/strategy that I have conviction about and workflow/processes should fall into place nicely very soon.