Well - after yesterdays debacle, I have to confess that it was frustrating watching that losing trade play out. Especially, when I did have a winning trade setup on a shorter time frame that was passed due to what I explained. However, keep in mind that even with an 80% win rate that I have, 20% of the trades still lose. We cannot get too hung up on one bad trade. Part of being a successful trader, is learning from your losses.
As I had said in the earlier post, I would research the setup if a loss occurred to see what might be able to be improved next time. I did in fact find something significant, that had been overlooked. This particular pattern has been modified to incorporate this. Hopefully, I am getting some credit for being honest about losses when I take them. I find that many people do not do this. They lead people to believe that they just win on every trade.
The S&P 500 is a very volatile market, and one that is bound to hit you now and then.