Trade the Plan

How do you have a $500.00 winning crude oil trade and feel like an idiot?

By not following your plan and missing the $930.00 that came after your brilliant exit.

The trader in charge (me) was watching the 8 EMA and the CCI 100 line cross and came to conclusion that he should move his stop to protect profit.

The ADX, who is not in charge, said there could be some more downside here, lets hang on until I turn white. Which is how the trading plan is written based on hundreds of trades showing that this is the best exit.

I don't mind leaving money on the table when it happens within the confines of the trading plan, but when I deviate from the plan and it costs me money... well let's just say I was not happy.

The plan and the ADX were right.

The trader in charge (me) was wrong.

Trade the Plan.


(click on chart for better view)