GBPJPY-big bat near to completion-my common mistakes
Hello, one of the features i like from TradingView is that i can use it as my personal log. All charts are saved and after some time i can come back and analyze my common mistakes and how can i improve my performance.
Im saying this because one month ago i published and idea looking to sell the C leg of a potential bullish bat:
I took that trade but booked profits too early, got too emotional after the China crisis and did'nt follow my plan. This is a common mistake i think most traders do: to take profits too soon and keep losing trades too long.
I also realized that i dont trust my own analysis/charts and manage a trade looking every candle on the same or lower TF.
Its a great true that psychology is 80% of a succesful or failed trader.
Having said that, we see here a perfect bat near to completion:
- CD=1.61 AB leg
- long term level of S/R
- expected SL and targets on chart
Follow your plan!!!
Bes regards.
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
Im saying this because one month ago i published and idea looking to sell the C leg of a potential bullish bat:
I took that trade but booked profits too early, got too emotional after the China crisis and did'nt follow my plan. This is a common mistake i think most traders do: to take profits too soon and keep losing trades too long.
I also realized that i dont trust my own analysis/charts and manage a trade looking every candle on the same or lower TF.
Its a great true that psychology is 80% of a succesful or failed trader.
Having said that, we see here a perfect bat near to completion:
- CD=1.61 AB leg
- long term level of S/R
- expected SL and targets on chart
Follow your plan!!!
Bes regards.
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
