Sometimes things just don’t go right……

I decided to stick with the wheat market last night, although soybeans would have been a better bet. 

wheat071227.png

I took two cracks at an aggressive entry for a short trade, anticipating a continuation pattern to the downside. They were both stopped out. If I had tried once more, I would have got in for an excellent trade, but I always stop after two losing trades.

Had I chosen the soybean market, an aggressive entry would have taken me short around 1237.5, which would have been a reasonable trade, although it would not have reached my downside target.

Beans071227

It’s always easy to spot these things after the event, but I followed my methodology, so I’m satisfied with the session, even though the outcome was poor. Trading is a game of probabilities, and sometimes you lose. It’s part of the business! 

 

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