My losing trades - 19 Jan 2025

I am not deterred by another losing trade. The only thing that matters to me in 2025 is to increase the percentage of trades taken that are in accordance with my rules.

The below trade was a trade on Cardano, which was opened on the 15 Jan. The image below shows the entry. See further below for an explanation.

After a huge run up and pull back the price action then made a double bottom before starting to rise to the upside again.

At the point of entry the bullish elephant bar, which was the reason for entry had cleared the previous pivot high with volume and closed above it. Further, noted by the circle the 20 and 200 simple moving averages were in a narrow state.

With price levels, volume increase going through previous pivot and moving averages being in a narrow state I would take this trade set up every time I see it. Unfortunately in this case the trade moved sideways and eventually fell and stopped me out.

There are a few losing trades in a row posted but I do also have some ongoing profitable trades with profit locked in. Details to follow once I close the trades! We don't see people speaking about their losing trades but this is the real world of trading.

Trade Clearly!