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RE: FOREX LIVE: @mindhunter's EUR/USD UK Snap Election Trade Now Hits $2300! [Let The Profits Run As We Say In Forex]
You needed to let that one run, but like the Swissy, you gotta keep an eye on the Yen, so best to get some rest instead :) Right move.
Yeah I slipped on letting that one not run with my initial entry [email protected] but it's practice for me as like I always say, when I get my account back up to a $1000, all I'm looking for is a line 0r two. What is a line you ask! To me a line is 4xample say, I'm in @111.5 then I get out @111.6 so, 5 to 6 is considered a line and a BAR which I like to achieve when I see fit, is say 4rm 111.5 to 112.5 ;)
I could be closer back to the $1000 if I let my ish run but I play with small money with high(max) leverage & so, I had to make sure I got something so that I can(which I did) get into another position with more capital thus allowing me to make more. It's more work but it's what I do! UNLESS again, I see a reason to stay in. Although I could have let that one run, I was nervous as the charts still wern't looking like how I like to see it so, was unsure. I'm happy what I got. Now I just need to be patient in finding another set-up ;)
The best piece of advice I can give you is: Trade the charts on what you see, not on what you feel. Once you get that sorted out your always onto a winner :)
;)
@mindhunter
That is so true!!!!! This happened to me today and mark my words, this will be the last time! I honestly did not think I was going to trade till around 4pm(Pacific-time) but I seen something on the 4hr. chart as I was analyzing and I seen a head & shoulders pattern with price reaching and touching the major resistance area. I thought hey why not go for a SHORT today since it's a down day. I got in @111.710
with a set TARGET @111.2. As I got in, price suddenly was looking very bullish! And considering how volatile the market was this morning, It distorted my thinking and so, got out as it rose to around 111.782.
I leave to take a quick walk outside to get some sun then as I entered back into my office I seen that my could have been TARGET was reached SMH wow!
Then I re-entered @111.210 in a hurry as the market looked poised to head lower @that instance then price rose again making me have to wait haha It came back down to my entry point and then I broke even as I was getting nervous that it would head back up again quickly as the market was moving quite fast. I missed out on two great opportunities. NEVER AGAIN!
And I was being smart my using 100 X this time rather than 200 X ha!
By writing with you, I seem to be getting more aware of what I should not be doing, knowing when to use my max leverage and when not to. Thx for chatting with me ;)
We need to diary these trades to monitor our emotions and look back on our trades over time. Like were all trying to be better bloggers on here, we are trying to become better traders as well. We must trade what we see - not what we think we see.