My losing trades - 10 Jan 2025

It is not whether my trade was a winning or losing trade that is important it is whether I should have taken the trade in the first place. The trade set up from this trade on Silver is below.

The price action was being contained within a narrow range. The 200 simple moving average ('200 SMA') was acting as resistance. However, on any attempts to break the 200 SMA the price was not falling and the bulls had been stepping in quicker each time. This was evident on the basis that price action was continually making lower highs.

For the entry itself it was taken because the price had closed higher and above all previous resistance wicks. This time price managed to close and I entered a long trade.

Unfortunately price action smashed the price down and I was ultimately stopped out.

I am comfortable with this loss because based on the information at the time of the trade entry I had done the right thing. Don't beat yourself up on losing trades provided you should have entered.

Trade Clearly!