Mistakes I made in the Flow Method

[orderflow13]

in morning when saint sir book half profit on bar 1 , all got confuse ( saint sir going to explain it in evening ) and few members also book profit cuz saint sir did so, rightly mentioned by nifty chance there, it was against rules to do something without understanding the principle.Now interesting part is this..on 2 nd bar when market was making high few frnds started booking profits at prev bar 1 high(reason fresh memories )
I must admit i was very tempted to do so but robot mode saved.Today learn something from my friend's mistake.
As Saint sir mentioned ' trade of the decade comes every day ' so cheer up guys and take something positive out of it like a true gold miner.

 

[Satyen]

Wow just saw this thread its great

Thanks friend

Regards
Satya

 

[niftychance]

in morning when saint sir book half profit on bar 1 , all got confuse ( saint sir going to explain it in evening ) and few members also book profit cuz saint sir did so, rightly mentioned by nifty chance there, it was against rules to do something without understanding the principle.Now interesting part is this..on 2 nd bar when market was making high few frnds started booking profits at prev bar 1 high(reason fresh memories )
I must admit i was very tempted to do so but robot mode saved.Today learn something from my friend's mistake.
As Saint sir mentioned ' trade of the decade comes every day ' so cheer up guys and take something positive out of it like a true gold miner.

Hello

It was a nice learning experiance for all of us ....

As soon as the long was triggered, the breakeven point was calculated in my mind. I knew only if NF goes above 3130+ our position will be in green for the day ...

As soon as I saw price going above 4130, did not want to give up on a chance to end the day in green, the trend was clearly up and price looked to have steam left but bailed out at 3140 ....

Another thing, I did add to the long position around 3090, but did not include it in the maths, had i done it i may have sold off earlier instead of waiting till 3140 ...

Had a nice day, but not happy with the dicipline, a long way to go..

Overall I think, not calculating the gains/loss while in the trade would be a better practice ...

Comments welcome...

Thanks

 

[Saint]

Really feeling baad for stepping out OF LONG TRADE today at 3054..........

Nothing wrong in stepping out of the Long Trade......wrong in not getting back in.

In the beginning,the budding trader experiences these bouts of would've-could've-should've moments.........realise that the trade exists in the present moment and not on hindsight.Therefore you have a Plan to deal with the Trade in the Present.....Hindsight is nonsense.It does not exist in the Present Moment and therefore best to dump it.Therefore,if you took your profits and exitted all and then market broke through pivot highs,what to do you do the next time around?

Simple.....just get back in.

Saint

 

[Saint]

in morning when saint sir book half profit on bar 1 , all got confuse ( saint sir going to explain it in evening ) and few members also book profit cuz saint sir did so, rightly mentioned by nifty chance there, it was against rules to do something without understanding the principle.Now interesting part is this..on 2 nd bar when market was making high few frnds started booking profits at prev bar 1 high(reason fresh memories )
I must admit i was very tempted to do so but robot mode saved.Today learn something from my friend's mistake.
As Saint sir mentioned ' trade of the decade comes every day ' so cheer up guys and take something positive out of it like a true gold miner.

Great stuff from NC and yourself,Alex!Never do something that is against the core principles of the method,and above all,never do something--anything-- without understanding it.

I usually take profits at the area of resistance,and in this case a bar that ends at the area of supply tells me it is correction time or sideways time.........correction can be dealt with our SARs breaking down.Never happened.Sideways move--I did not have the patience to sit through when too many stock futs were blasting off.Did I expect supply to get eaten up and a breakout?Obviously not or I would have still been in.But would have just reentered over the highs and joined in the trade.MM rules prevented me from doing anything as had accumulated too much of other stuff by then...But no regrets though,...good day!

And,yes,it's a hold till the last 5mins,at least last half.

Great going,Alex!!

Saint

 

[inspire]

Nothing wrong in stepping out of the Long Trade......wrong in not getting back in.

In the beginning,the budding trader experiences these bouts of would've-could've-should've moments.........realise that the trade exists in the present moment and not on hindsight.Therefore you have a Plan to deal with the Trade in the Present.....Hindsight is nonsense.It does not exist in the Present Moment and therefore best to dump it.Therefore,if you took your profits and exitted all and then market broke through pivot highs,what to do you do the next time around?

Simple.....just get back in.

Saint

Superb!!!. Just a thanks won't do for this.......

Regards
Inspire

 

[TFL]

Yah I also exited soon after I have seen you exited all.
Then managed to re-enter near 3085... I think a pivot break at 20/25/30 or days high.
So I got 3 trades today. But the exit prevented my add on the second trade @ 3085-90 area... So the loss at 1st trade eaten most of the profits...

1st trade : -144 (entry by 3 lots)
2nd trade : + 24 (8*3)
3rd trade : +25, +45, + 84 (booked 1/3 @ 3110, 3130,3169)
Less brokerage: -(3*9)= -27
----------------------------------------------------------------------------
Total: P/L : Lost 17 Points.

If I had traded as per the plan... There will be an add @ 3185 region and the result will be good profits. Here comes the importance of MM and Trading Plan.

haribird.

 

[orderflow13]

Great stuff from NC and yourself,Alex!Never do something that is against the core principles of the method,and above all,never do something--anything-- without understanding it.

I usually take profits at the area of resistance,and in this case a bar that ends at the area of supply tells me it is correction time or sideways time.........correction can be dealt with our SARs breaking down.Never happened.Sideways move--I did not have the patience to sit through when too many stock futs were blasting off.Did I expect supply to get eaten up and a breakout?Obviously not or I would have still been in.But would have just reentered over the highs and joined in the trade.MM rules prevented me from doing anything as had accumulated too much of other stuff by then...But no regrets though,...good day!

And,yes,it's a hold till the last 5mins,at least last half.

Great going,Alex!!

Saint

as inspire said thanks is not enough.this thinking process goes in your experience head while trading live is worth billion for us.Thanks for sharing saint sir. You made my day/evening.

 

[pakatil]

Nothing wrong in stepping out of the Long Trade......wrong in not getting back in.

Simple.....just get back in.

Saint

Today I made series of mistakes, which only proves how dumb guys can defeat the best of the methods.

Instead of just getting out from First Long Trade, reversed @ 3060. Again Reversed to Long @ 3087. Now come my dumbness . Stupidly I scalped @ 3112. So there I am in Loss instead of being in Gains.

Saint, you have given the best Method. Pls hammer in to my dumb head, some wiseness.

Cheers

 

[ThE HaMmEr]

1st of all thank u alex for starting this thread..........and thank u sunil for all ur valuable posts............sharing mistakes is jewel of a thing............nd here we get to learn from every1's mistakes................

thank u so much.........traderji is now my home........and all here are my friends......my brothers.............

thank u saint sir for everything........and all the seniors for being there............

thanks is nt enuf for all the things that we learn and share here.......


regards

neeraj