I just exited DBLE at 8.30 for quite a significant loss. If the market is indeed making an important top here, I would rather not be chasing or holding this dead dog any longer.. This was only the second trade of the Cheetah Trading System and is the second loss in a row. This is not good.
I think it best I put the Cheetah Trading System on hold for now. The first two trades of the system have been really quite bad and I was already in the second trade when I realized that the approach needs to be a ‘big pattern strategy’. The first two trades were not trades out of big patterns. So in a sense I was putting the cart before the horse. I was already in two trades before I even realized what approach I wanted to take. Then I also held the second trade much longer than I would ever normally have done.
So I will put the Cheetah Trading System on pause for now and think it through for a while. Perhaps I am just not well suited towards longer term holding periods. I have to say that most of the time I leave a trade within 5 days or less. It is hard to shake that mentality off so quickly.
Anyway, flexibility is key. I am open minded. It could be that I just prefer to do any type of normal trade that I see as the highest probability trade at any one time. Perhaps I will continue on with the system that way. I just do not know at this time if I have the patience and the stomach to try to find big pattern trades and sit around forever waiting for them to play out. Perhaps I will just do a combination of the various methods.
Failure is the mother of success. Keep on trying and good luck 🙂