Thursday, November 1, 2007
A bad winning trade
Short entry on the rush this one, a very dangerous one. I didn't enter at the 70 level break, then i was running after the price. Entry at 42, immediate reverse or retracement, -18p , didnt close, rule #1 for max stoploss 12 p, forgotten. Then it reversed again, price came in my favour (+4 pips) and I closed immediately. I didn't have the guts to let it drop! Lesson learned...
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There are so many times I have been in exact situation where I never entered earlier and then I thought to do it later when suddenly I found myself in trouble, so that’s why we should be careful with these things and better not to trade if we have doubts. I am using OctaFX broker where they have got excellent low spread of 0.2 pips for all major pairs which really allows me to work smoothly and always bring results in my favor.
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