So, I clearly have to improve in staying focused, Today I had two trading mistakes torwards the end of the day. It happens to everyone, I got really frustrated with myself, but this is a good example of what to avoid when trading.
1) Managing Exits: C (Cut my stop too close to the action on the last trade of the day)
2) Trade Set-up: C (Big mistake taking the GBP trade with the 1hour support line)
3) Big-picture assessment: A+
1) Short GBP/USD: This set up had room to go, it triggered and then immediatelly backed off hitting the stop. So far so good, no mistake on my part, simple cost of doing business. -0.87% ROI
2) Shor EUR/USD: This was an announcement trade, I took the reversal in the 1 minute chart, it performed as expected, going to the previous low. I had the entry order too far bellow the propper entry and ended up taking 1/2 of the profits. +0.53% ROI
3) GBP/USD: This trade happened at the same time I took the EUR/USD post-announcement trade. I was not observing a KEY factor against the trade: Notice the dashed white line, it represents the 62 EMA on the 1-hour chart. I did toggle bettwen the 5 min and 1 hour chart, but at the time my 1-hour chart was not properly set up and I thought the dashed line was a mistake on my part. This is a trade that I usually avoid, for a very clear reason, so it was a trading mistake on my part. -0.94% ROI
4) Long GBP/USD: Last trade of the day, I was almost certain we would visit the higher portion of the chart, but GBP/USD backed off. Here is my mistake: I moved the stop too close to the previous candle's low, it was hit. If I had stayed in the trade and managed it as planned, it would have performed to the target as I had expected. But at this time I was not trading in my best. -0.97% ROI
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