BlogNovember 25, 2021Michael Covel

“Currently the biggest challenge I’m facing right now I’m my trading journey is relating to hold my winners and only a few big red days wiping out weeks of work…”

Feedback in:

Hey Michael! Currently the biggest challenge I’m facing right now I’m my trading journey is relating to hold my winners and only a few big red days wiping out weeks of work. Have started working on having patience and only taking good RR trades.

Thank

Only a few days? Your strategy is?

I’ll give you the data of this year in short. I trade in the Indian Stock market primarily. Option trading the index’s here. Over trading and around 1-2 big red days in a week wipes out the gains for the month or brings it to a small gain or break even. My strategy is based on Price action purely. But it is more towards discretionary than systematic. It is all to do with chart patterns. I lose the most when I chase and over trade because of being focused/fixated on super short time frame (less than 5mins).

That strategy sounds likes a hot mess. Here is an alternative.

Learn the rules behind trend following, and the systems to apply them.

See the courses

More from Michael Covel: Books · Podcast · Trend Following course

Filed under Trend Following

Join Trend Following™ today.

Get the free trend following video and Michael's newsletter. Unsubscribe any time.