Posts Tagged trading loss
I was doing pretty well of late but my trading seems to have suffered a turn for the worse of late. I know that I am entering trades when I shouldn't be.. they are like gambles. My short of the GBPUSD at 16263 was premature. The trend was clearly upwards but I was seeing a slowdown in the rate of progress the market was heading upwards.. it has powered uphill rather rapidly and I was expecting the market to subsequently move down before a continue journey upwards. Countertrend trading as this is
June 9, 2009
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Unfortunately, my winning streak was broken the other day (18th May) when I sold the EURJPY at 13016 and got stopped at 13050 for -34 pips. The market had been trending upwards and I thought that the momentum was running out of steam and hence the short.. the market briefly dipped and I felt this was my cue to enter.. however, it turned out to be a fake sell pattern and the price promptly went upwards to hit my stop.
The lesson here is to be careful when trading against the trend. I find
May 21, 2009
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I have had 8 winning trades in a row and I'm starting to get a little nervous. Generally I know that I am about 60% correct so a loss is due at some stage.... each time I am trading I am aware of this and this makes me a little nervous. Anyway, I went long the GBPJPY at 14581 when it breached the downward trend (as indicated in the chart below). My stop was at 14545 and my first target was 14620.
The market shot up and I got nervous... it shot up too quickly and with a surge like this, I expe
April 30, 2009
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