Posts Tagged trading psychology
Last week we made two trades.
The first one we took 120 points on the Crude Oil long and the second trade Long Silver. Because of the profits from the Crude Oil trade, I felt comfortable giving the silver trade more room for a chance of a greater move. Unfortunately, the trade ended up as a scratch trade (even though it was in profit at one stage). I found that by having a profit already in the bag, it gives you the buffer to be able to give following trades a bit more room. Even a smal
March 20, 2013
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[caption id="attachment_7658" align="alignnone" width="601"] 16th January - Silver Long[/caption]
I've found that it is always difficult psychology wise to trade as well as you should if you start with a losing trade. Our Gold trade earlier in the week had left us with a 120 point deficit.
Trading Silver is a bit like trading gold as they move in tandem with each other, it's not often that you'll see them diverge. Anyway, I went long Silver on Wednesday after see a positive pin bar.. it sh
January 19, 2013
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My EURJPY trade earlier this week saw me get in the trade at a great place... however, once again, I fluffed the exit. The chart is below:
The horizontal blue lines show where I entered and exited. I entered at 10657 after seeing the pinbar. I got a little wrapped up in the lower timeframe charts and saw resistance at 10700 and close the trade. I took 40 pips on the trade. You can see that the trade has since moved another 170 pips beyond my exit.. if I was still in this trade I would be
December 12, 2012
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