Friday, December 17, 2010

Expectations

A serious mistake here : in the middle of a strong move and after some green bars, I believed it was time for a retracement. I went contra-trend and...I lost 7,6 pips. I had the  "honesty" to accept my fault relatively quickly and then I entered in the right direction and got the pips back.

I wrote this a million times before : Our beliefs, expectations, assumptions are the perfect way to perdition, especially when trading. What every zen monk knows very well.
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2 comments:

  1. tussinette13:45

    Dear Forexbird,

    I see that you added a BB on your chart since a few month. May I ask you if you use it as a possible turning point for prices during ascending supports ? or is it just a general visual support ? Maybe for something else ?

    Even if I follow you for a while now, I am still very impressed by all the experience you're able to share.
    Thanks for your help and generosity,
    Sparrow FX

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  2. Ajmal07:16

    There are so much expectations that we have for the market but still it rarely gets fulfilled and fortunately when it does not we end up in deep trouble. I mostly keep my option safe and secure thanks to OctaFX broker, it is due to their rebate service that gives me 15 USD profit per lot size trade so even a losing trade is not so bad for me and I can be fearless with going on the expectations of the market.

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