Posts Tagged trading psychology
This was something which I saw yesterday but I didn't have the confidence to trade it and didn't. I had emailed this to a few of my trading friends to get their view but they weren't sure either. Anyway, imagine the chart below but without todays up bar.
The way I saw it was this, there was an obvious support as draw below at approximately the 15650 level which can be seen very clearly in the daily charts. The market had bounced off this a few times already as you can see. With the latest pri
March 13, 2012
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Today was a very interesting day in terms of my trading psychology. I was able to see where I went wrong and also analyse my trading psychology and where I went wrong.
I mentioned in a previous article about the importance of where to put my stop and one thing that I did well today was that. My stop was below the previous low and therefore support at 8847 (which is a little bit below the actual support at 8860 to take into account the stop hunters and spreads).
The trade didn't really get
September 8, 2011
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For those who read yesterdays post where I had missed out on a nice 55 pip profit on the EURUSD as my system had not identified the exit went to hit the stop target which meant a 28 pip loss overall is rather annoying. This actually means that your account, if you take a nominal starting account of 100 for example, was 155 if I had closed when I thought I should have closed to 72 after the stop was hit. You can see that this means that in fact, I lost an overall of 55 + 28 = 83 pips which is a l
June 15, 2011
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