It is a painful day for the long 2137 giving up 91 points of potential profit from the top 2345 by turning sell at 4pm just now at 2254 according to the hourly indicator Y trading guides. It is not so important to discuss the profit here since the main focus is still on the psychology in letting go huge profit.
From now on, it is good to see how is the short 2254 performing in this stop and reverse trade at 4pm.
Remember, it is good that readers traders can realize now on the possibility of giving up huge floating profit that being written in earlier posts for a technical trend trading that strictly follow the stop and reverse trade signals like what is happening to the hourly indicator Y.
There is no one trading system 100% perfect in technical trend trading using technical trend indicators. Bad indicators can be good and good indicators can be bad! Be alert when the multiple losing trades strike you!
The Basic of Crude Palm Oil Futures Trading On Bursa Malaysia Derivatives Based On Technical Analysis.
Wednesday, 5 November 2014
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