Posts Tagged trading psychology
If you'd been following my Twitter profile on http://www.twitter.com/makemoneyalan, where I post my trades in realtime, you would have seen that I entered long EURUSD on Monday at 12911.
I also posted the other day about how I wanted to move the stop to the days lows.... how I failed with that! I am still finding that I'm not holding onto my trades long enough and the temptation to exit my trades in a profit is still something that I need to work on.
Anyway, here's the trade:
The en
December 12, 2012
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I finally closed my Crude Oil long today and made a nice 120+ points.... a good trade but it was also a fascinating experience for me with regards to my trading emotions.
I mentioned that it was a premature entry which I had made on the 25th October - exactly a week ago. I was overconfident due to a pretty good week trading and put on my crude oil long at 8600. I hadn't waited for a confirmation for my entry so psychologically wise, I wasn't best pleased with myself. However, I had committed
November 1, 2012
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I got my 90 pips from the trade last night. As you know from my previous post, I had entered the market at 1.2370 with a stop at 1.2460 and looking at a 1:1 risk to reward trade which meant a limit order at 1.2280.. ie a 90 pip stop with a 90 pip target.
The two spinning tops were the key here showing that there was selling at the levels, that coupled with the downtrend movement made me feel it was a good short play and I got rewarded.
So, a decent start to my trading again after all t
August 9, 2012
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