Re: Nights Watch by Afrikoin

i missed the train.

It seems you'll have soon a nice opportunity to get back on Grin

I never thought I would hear this quote from Afrikoin :S Missed the train?? Hey, you do amazing analysis & chart, why is that?

Because charts are only a risk management tool while Afrikoin got full of himself and took them as predictions. He completely neglected his "ATH+$1" threshold to admit he was wrong and started inventing reasons why an up-wave could in the end be a down-wave. The last few weeks have been a great demonstration of cognitive dissonance at work. This is textbook bad trading.

TL; DR: ALWAYS set your stop-loss before the trade and HONOR it.

I said it here before

I miscounted a wave

It was not complete

If you look around you'll see the technical chartists who got it right

You're not listening:

You "miscounted", no problem, all traders make wrong calls. The point Pruden is making is that a good trader (or just one that will survive) doesn't enter a position without preparing the exit. That's the exit should the trade go either good or bad. And being 'out' is also a position.

You set yourself your exit at ATH+1, but then, like an amateur, you didn't go through with it and missed a 40% move. Now, when you're asked for your re-entry you say $1100? (with a question mark) - no doubt if it gets there you won't do that either and will wait for your $800.

You're collating all these charts from others around the net and adding next to no value, flip-flopping around with amateurish indiscipline. Pruden is right about the textbook bad trading - have you met Mat The Cat?