Somedays every trader makes bad decisions. Markets are dynamic. We observe some patterns but don’t know how long they will hold.
i think before u enter a trade, u must have a plan…
perhaps ur bullish on this trade then u dont go and say ur bearish the next minute unless u were scalping for a pip or two
also with super tight stop loss but supet low risk high reward ratio ur really going to get hit by ur stop losses alot!
learn to ignore the market noise! learn to trade with the trend! learn when the market will turn on you…
most important learn to be consistent!
Have a solid plan! Treat it as a business…if u open it today try to keep it opened not open one day close one day then open a month later…inconsistency kills
Target reached, pips banked.
RESULT: Target of 1.3093 reached - +30 pips
Hi, you spoke too soon there. As I wrote earlier, this is forex and anything can happen (it just did!)
Have a good day and may the pips be with you.
obaasima,
Gratz with your trade…
It is brave to keep a journal here. I guess the thread title works against you at the moment. But ignore the comments. Just do your thing… I hope the others will spare you with smart comments, because you won me over by also being open when you switch SL and TP and when you made a loss.
There is always a reason to say that a TP or SL will not work, but in the end it is only the result that counts.
One question. Do you record your trades using your original TP or SL. I ask this because I see you switching them and keeping records of the original trades help you to rely more on your initial trade set-up. It is always difficult to stick with your original set-up, but this will be required to further define your trading rules.
Happy trading!
Hey, thanx 4 ur post.
Patience is the key; some you win, some you lose, no big deal.
I bet many traders know that oftentimes, a trade that might look like it’s not gonna deliver just turns round and surprises you. That’s when your patience and tenacity is tested as a trader. If you can just keep calm and trust your strategy and stop loss, the trade might just come good.
My trades are as I post them. I prefer to be able to refer to my initial s/l and t/p values, then have any changes also available, so I can remember and learn from the reason for the change of s/l and t/p values.
Green pips (or blue pips, whichever you prefer) to you.
Just entered a buy trade.
BUY EUR/USD @ 1.3105, s/l @ 1.3087 [B](changed to 1.3035)[/B], t/p @ 1.3135
I anticipate that the morning’s up move is going to swing up further.
UPDATE: I’ve decided to change the [B]s/l to 1.3035[/B] and keep t/p unchanged.
(News release soon, just a precaution)
I would think 3122 as a stretch tp. It’s covered a lot of range today. I wouldn’t long it here but you may get lucky. Your original TP of 3163 on the other trade was way too high short term. Good thing you changed it.
AMAZING!!
Hey Obaasima, Good trade bud, Im here to eat the crow, :36:
See, I actually helped you, because when I write predictions on this forum, they ALWAYS turn the other way, lol…
Im a scalper, 4-7 pip stops, differant game we all play…
Again, Good job, and great profits to Ya,
Yep, good on you for eating humble pie. I may have to eat a few myself before long, so never mind. It’s a trader’s world after all :60:
Trade well, my friend.
S/L for this trade has been amended as a precaution so I don’t get taken out due to news fluctuation whereas the trade could have survived.
Some people may well decide to stay out of a trade altogether before news release but I believe that news tends to move PA in it’s existing direction; just my 2 pips.
1.3163 too high? Hmm, stranger things have happened. This is forex.
that’s a stretch with the small ranges on EU recently but no not impossible. Just unlikely in one day. Of course if it manages to get above Wednesday’s highs then that area could be the next target up. I still think it’s close to topping out near where it is right now. Say 3120 ish. But trade what you see and not what you think. Right now I do see it moving up. and I don’t see anything that would suggest shorting it.
There you go… It is writing 1,31584 when I wrote this… It made a strage pattern, but it still made it. Gain some more confidence on the initial set-up. Nice work. Just crossed the 1,3163.
Those US guys keep on thinking that the $ is in the lead, but the $ is just holding the EUR growth down, not the other way…
I picked 60 pips from 2 trades instead of 100 from 1. Not bad for a day’s work. May there be more days like that ahead.
wow news spike got it there! so much for my crystal ball LOL
Sorry, can’t hear you… I am in a wild ride going in my direction…
Tomorrow you are right again TalonD, today is our day…
Well, I’ve opted for a sell from here.
SELL EUR/USD @ 13183, s/l @ 13206, t/p @ 13083 ([B]changed to 1.3153[/B], 30 pips)
Nothing ventured, nothing gained.
UPDATE: Decided to[B] change t/p to 1.3153[/B] (30 pip profit is good enough, I reckon)
RESULT: S/L got hit = -23 pips
I had .3175 as a W1 s/r line, too bad I wasn’t in it. 
oh well. From there up to about 3250 is a block of messy s/r. If you really want a long term target how about 1.45
I’ve gone ahead and amended the t/p on this trade to 1.3153. It’s one of those days that anything can happen, right?