padutrader,
Sorry, but where did you short at?
Did you short at light blue arrow, with stop loss at blue arrow and possible exit at orange support?
Yes the intermediate trend is up, but that is a decent short, want to take a trade.
Trading Forex
- Thread starter padutrader
- Start date
padutrader,
Sorry, but where did you short at?
Did you short at light blue arrow, with stop loss at blue arrow and possible exit at orange support?
Yes the intermediate trend is up, but that is a decent short, want to take a trade.
thank you
yes market has changed
blue lines is where I shorted...but the trend is up and strongly up...I am an absolute idiot.....the gaps mean strength and here I was waiting for a retracement to buy.. and eur was saying bye gaps mean all traders were buying not waiting for retracements...
missed it... misread it
see the chart in the post...in the trading window beloew the chart you will get the exact rate I shorted I have circled it in read
blue lines is where I shorted...but the trend is up and strongly up...I am an absolute idiot.....the gaps mean strength and here I was waiting for a retracement to buy.. and eur was saying bye gaps mean all traders were buying not waiting for retracements...
missed it... misread it
No!
You shorted near the top - good
Had your stop in place - good
in with 2 lots, not 6 - good
the high is still in place - meaning you had all the time to make decisions to hold or go flat.
also i too am learning though i have been trading it for ten years....i never documented my reasons for trade....so probably were making the same mistakes for years....because we only remember the result of our actions not the reason for taking them.
when everyone suggests the same thing it is better to take it: eg keep a stop loss; keep a journal
i have always thought why keep a journal... it is ridiculous....i was dead wrong ,it is a huge benefit and a public journal is, even better.... a lot better..because of all the jibes and bitter medicine administered forcefully.
i have no doubt that the results of this last week may be directly related to this single action of keeping a journal
when everyone suggests the same thing it is better to take it: eg keep a stop loss; keep a journal
i have always thought why keep a journal... it is ridiculous....i was dead wrong ,it is a huge benefit and a public journal is, even better.... a lot better..because of all the jibes and bitter medicine administered forcefully.
i have no doubt that the results of this last week may be directly related to this single action of keeping a journal
Last edited:
i was thinking about it and i was expecting a drop of some huge ticks.....but i missed one thing which is the same thing you missed.........NO LIQUIDITY.
with week end coming in less than 2 hours it was no time to trade
I find trading with the trend more safe and you get faster results and I do not think the market had done enough work for a change of trend and the worst thing was it was just 2 hours till market close
Look at the chart now, would you still take the short at the price and location you went short?
there should be at least one more reason to take a trade...just shorting near a high is not good enough
like I said the trend was up....but I was suspicious because the up trend was moving fast...I thought too fast...but that was mistake …….trends that move fast do not reverse
counter trend moves that move fast reverse
but all this was forgotten at that time for some reason.
noting this in my journal will hopefully prevent a recurrence
so there needed to be a lot more reasons for the trade than there was...I forgot fast counter trend moves usually may be faded....there are so many things that you learn and then forget and a loss reminds you of them
I rarely trade in strong trends....not done it very often