I made 2 mistakes in this trade :
1. Trying to outsmart the market by predicting the next move (see trade post here)
While my loss is small, it is NOT a loss that needs to be made in the first place.
2. Emotions run amok - I adjusted once more in my stop loss, furthering my losses instead of letting it go.
So based on these two mistakes, I was wrong. Wrong because I failed to follow my own trend line rules. Wrong because I adjusted the stop loss, hoping (not a strategy) it will reverse sooner than later. I was afraid to have a sore point in my portfolio of greens. Argh, some ego there , huh ?
Fortunately, I wake up to my senses and immediately cut my 2nd losses to contain the damage. I will find an opportunity to short this pair later and obey the trade rules again.
The beauty of writing a journal entry like this is to acknowledge your mistakes, review what went wrong and rectify it immediately. I am sorry if anyone had followed this trade post and made some losses.
1. Trying to outsmart the market by predicting the next move (see trade post here)
While my loss is small, it is NOT a loss that needs to be made in the first place.
2. Emotions run amok - I adjusted once more in my stop loss, furthering my losses instead of letting it go.
So based on these two mistakes, I was wrong. Wrong because I failed to follow my own trend line rules. Wrong because I adjusted the stop loss, hoping (not a strategy) it will reverse sooner than later. I was afraid to have a sore point in my portfolio of greens. Argh, some ego there , huh ?
Fortunately, I wake up to my senses and immediately cut my 2nd losses to contain the damage. I will find an opportunity to short this pair later and obey the trade rules again.
The beauty of writing a journal entry like this is to acknowledge your mistakes, review what went wrong and rectify it immediately. I am sorry if anyone had followed this trade post and made some losses.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.