This week was hell. My strategy took losses. Let’s go through my trades and how I plan on improvising from next week. I hope you learn something new.
GbpUsd, I had nice entries with good risk to reward ratio….what happened? My emotions were in play because I was married to the trade. I did not want to lose. The major lesson the markets taught me here was, I should plan my trades, input my stop levels, and SIT ON MY HAND. No one can ever predict how the markets will move…no one. Take your risks and let your edge play out.
UsdCad, this trade pained me alot. I think I chased the money on this trade. But lessons learned and I won’t repeat such…ever!
AudUsd…after taking the loss on UsdCad above, I was emotionally down and closed all positions I had. What I could have done was to let my winners run.
I also want to let you know that I will be removing UsdJpy and GbpJpy from my watchlist.
I hope this article helps you see the markets in a better way. Tough times don’t last, only tough people do.