The real drama happened earlier today : I entered short in my preferred bears' trap, market turned against me but i didn't close trade. I had 4 occasions to close at breakeven but I waited for the drop down, a possibility when looking at the hourly chart. I became a swing trader for a morning!... Price went to -30 and then reversed again and again... I could lose all the gains of the week in just one foolish trade, not mentioning the stress I felt. This is completely against the very essence of scalping.Finally, price broke the hourly trend line and I exited with 7,5 pips gain!!! Lucky me...
I hope this is the last time.
I am done for the day, 2 trades, 2 winners(!), 2,62% account increase.
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3 comments:
"A really bad winning trade" perfectly suiting title. it's good you know that it was very bad trade. don't make this mistake again, it could be -30 or worse. strict to the rules.
I totally agree Kirk. But discipline is the most difficult for me. i work on this...
This is a huge lesson to all that just for few pips we should never put our whole gain into risk, I have also faced similar problems when just because of greed I have been getting into unnecessary trades which always ends up making me lose, so in order to grow I have learned not to trade when I am not sure and thankfully with a supportive company OctaFX, it’s more helpful due to their news and analysis service which hardly goes wrong!
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