How I Liquidated My Account Before I Learned This Strategy
Trading can be a rollercoaster ride, and I learned that the hard way! Before I discovered the "Good Setup" strategy, my account took a hit that left me with nothing but lessons. Let’s dive into my journey and how this chart-based approach could have saved me.
The Painful Beginning
Back when I was new to trading, I jumped in without a solid plan. I chased every market move, ignoring patterns and support zones. My impulsive decisions led to a series of losses, and before I knew it, my account was liquidated. It was a tough pill to swallow, but it taught me the value of strategy over guesswork.
Discovering the "Good Setup" Strategy
Then I stumbled upon this gem—the "Good Setup" chart. This strategy revolves around identifying key levels like the Lower Highs (LH) and Higher Lows (HL) on a downward trendline. The magic happens when the price breaks a support zone (highlighted in green) and retests it, often forming a Double Top pattern. This is the signal to enter a short position, anticipating a drop.
The chart also emphasizes using a lower timeframe for precision, ensuring you catch the perfect entry point. The downward zigzag in the inset shows the Double Top confirmation—a clear warning of a bearish move.
How It Could Have Saved Me
If I’d known this back then, I’d have avoided chasing random trades. The break of the support zone and retest would have given me a structured entry, while the trendline would have kept me disciplined. Instead of liquidating, I could have ridden the downward wave profitably.
Key Takeaways for New Traders
Patience Pays Off – Wait for the break and retest before acting.
Learn the Patterns – Master Double Tops and trendlines.
Use Timeframes Wisely – Lower timeframes refine your entries.
My liquidation was a costly lesson, but it led me to this strategy. Now, I trade with confidence, and I hope this "Good Setup" helps you avoid the same fate! Happy trading!
Note: Always practice with a demo account before risking real money.
