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20170125 – 6E – Rookie Mistake Made – Took B-E After Almost Getting Stopped Out – No Good Reason to Do So

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Eventually, no matter how long you do something or how good you think you are at it, rookie mistakes will happen! After 17 ticks of profit on each contract, with many contracts on, (1 tick away from Money Management moving stop to B/E), trade pulls back to -11 ticks per contract (1 tick away from getting stopped out) and then goes back to B/E where I decided in my infinite wisdom to exit trade at B/E...Hmmm, I wonder how many people will send me an E-mail asking me what the big deal is? I didn't lose any money (except commission), so why am I making such a big deal out of this? The reason is because although I may of had a brain fart (more like a period of emotional weakness), MANY developing Traders will think that this is OK and I can assure you that if every time you decide to get out of a trade at B/E just because it goes against you, after having gone for you, before MM or Target, how do you expect to have many winning trades! I don't know of ANY traders that take trades with NO heat as a regular practice (even the "lucky" ones - LOL).

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Just another example of Trades shown according to the TFT Trade Plan that is now almost completely posted in its own section for Members Only.

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CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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About the Author
John Karnas has been trading since the tech bubble days of 2000. Now, as owner of TrendFollowingTrades.com, John tries to lay out a clear path to success, taking into account all of the mistakes that he made during his career in his early days of Trading. Click to learn more about John.