This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

Here’s some charts of a great short trade Wallstreak user MarketMonk made in PTR:

Daily:

5-min:

He pulled in 8 points there! Nice work.

I got back from my work travel, and I have taken 7 trades in the last two days–6 losses and one (small) win. I continue to trade wrong, be on the wrong side of the market, enter and stop at the wrong places. I’ve failed at following my 7 step plan, since I’m just trading anyway and not working it anymore. On top of it all, changes are happening at my job, and not for the better. This is a pretty low time for me, but don’t try to catch a falling knife–it can always go lower…

I’m going to start to follow my seven step plan again. No trades until I get to that step in the plan. That’s where I’ve gone wrong here.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com