SamKent
Long

AUD/USD reversal trade

FX:AUDUSD   Australian Dollar / U.S. Dollar
611 7 4
The Aussie is in rapid decline. It is approaching an interesting buying area for us, which is a point of confluence between a support zone , coupled with an ABCD formation completion. There's some indication in momentum that a bullish reversal may be in the horizon, and in general we like these type of trades as they carry high r&r, meaning we only need them to work out a small percentage of the time to show a good profit.

The Analysis was perfect, but another important Lesson, stick to the Plan, I shouldve not longed that one... ;-)
Reply
Aussie continue to drop. Did the trade stop you out?
Reply

yep, got stopped out. Luckily i took a very small position here.
But that level seems interesting didn see that before.
But i wont enter a trade again on which i got stopped out.
Reply
It certainly did sir :)
It's very good to point out the losing trades in my opinion, because having losing trades (and also losing streaks) is a necessary element of trading, and accepting our losses and controlling our risk (and reward) to maintain positive long-term expectancy on our trading is the key to trading success and long-term consistency.
Therefore, I thank you for pointing out one of our many losing trades, it's a good lesson to all of us.
Reply
Well spoken Buddy :)
Money and Risk Management PLUS Discipline and Patience... Thats the Key, and the only Key... sometimes we have to learn it the hard way...
But we have to learn....so we dont take the same mistake in future :)

My personal lesson is "Let the winners run, dont cut the losses" sometimes i tend to cut it before it reaches TP.

Lets keep it on goin!
Reply
Hean SamKent
Well said! Good trading system + money management + control emotions = long-term success. =)
Reply

same levels here, good job :)
+2 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out