Before the trades described here, i was positive +4,25% for the day and 11.60% for the week. BUT the good results made me arrogant, i was more clever than the markets again. I entered long, market turned immediately against me, -10, -20, -30, -40 pips, trade not closed... But later on, the market was so generous with the poor ignorant, to offer me 4 times the occasion to close at break even. Occasion was ignored of course. Then price started to drop significally and after 3 dramatic hours I decided to close at -47,5. Good decision indeed, the big drop was just beginning.I entered then in the correct direction and took one third of the pips back.
My problem : I pretend to be a scalper and once a week or a month, I behave as a position trader, losing my gains from scalping! I can't afford the large stop losses of a position trader.
Weekly profits ruined because of this trade. Week closed slightly positive.
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1 comment:
This is the biggest problem when it comes to scalping, it’s a highly profitable method but if not done with proper planning then 10 good trades and 1 bad one will equal the record, so that’s why we have to be seriously careful. I can do scalping much better with help of OctaFX broker, it has outstanding rebate service, it allows me to earn 15 USD profits per lot size, so I can be much more aggressive and get great results.
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