From your comment above it sounds like you have some sort of background in economics.
I am no expert in economics, I have read on the subject, and a lot of it is common sense. Thanks for sharing your trading experience. It has gotten me to thinking. I haven’t gotten into Trading yet. So, I can’t make a good call on this and I will probably be in your shoes before to long. The advice given in the pro posts from your message looks to be good advice and pretty much what I would recommend, even though I am a newbie, it just makes common sense to me. I would just look back at your trade, since you have a chart to go by, and take into account all the bad decisions against the good decisions and try to determine where you could have done better or avoided. I hope sometime in the future to share some of my trading experience, but right now I am still doing some study on it. Great way to learn though!
Trade Update
First of all I’d like to say thanks to RCarter and Simon Templar ( God that name brings back some great memories ) for the advice they both gave. Of course they are both correct, but sometimes us newbies need to find out the hard way to be convinced. As they say, you only learn to walk by falling on your backside a few times.
Anyway, I thought I’d put in a quick update to the trade plan I wrote about in the previous post. I did enter at 1-4431 today ( EUR/USD ) put my stop at 1-45 and my TP at 1-4190.
It may work out, it may not, but as I have been advised before, I made this trade on the strength of my own analysis so if I’m wrong I’m wrong. In actual fact the price rose today to reach 1-44988 ( 1.2 pips from my stop ) before falling a little and is at 1-4439 as I write this.
I have went into more detail about the trade on my diary blog but I’ll let you all know how I get on. Having said that, you’ll all know I’ve been stopped out if the price reaches 1-45 in the next 24 Hrs.
HoG
Then we three are of a certain age! … only I first remember ST in black and white! LOL!!! I’m going to stick my neck out here and say your looking fairly safe on the SL… don’t know about TP as I don’t set one but fairly agressively ajust my SL on a SAR of 0.1/1 second dot back, last if its really moving or exit on two other criteria. Its early to call really, I’ve been short GU for eight hours and feel more comfortable with this cross. But EU has just’ish signalled a short on my set up so took it. I’ll feel better about it into mid Asian/London.
Great, the price is moving to your side now, hope it reaches your TP… my advice is that you lock in profits if the fall continues.
I took a similar trade
Price: 1.4485 SL:1.4560 TP1:1.4320 TP2:1.4180
Let me show you my set up (sorry for the clutter) 
There are several factors defending my SL, 1) The break and psychological level at 1.4500 2) the down trendline (red) 3) the 50% fibo (1.4696-1.4287) 4) the congestion area 1.4500-1.4550 5) the 200 MA (hourly) 6) the overbought level in stochastics and to a lesser extent RSI
I am aiming to 1.4320 (support) and 1.4180(100 daily MA and uptrend)
Of course there are some obstacles on the way…- so i will lock in profits if the move down continues.
Jeez what all those lightening stikes? Just kidding sure you’ve got it figured.
How do you play Pick Up Stix with all that yarn in it?
I can clearly see now that trading is an art. It looks like some of those art pictures at museum walls. Well, I don’t come up with my charts. Them look worse, lol. 
Golden rule… don’t post a chart pic unless your ready for scrutiny and then some! LOL!!!
I know… I know there are too many lines I keep deleting
them but they pop right back up quickly
Yunny1
Wow ! That’s a chart !!
Anyway, sorry to bore you by giving a running commentary of my trade but the thing I struggle with , believe it or not, is more the psychological side of trading rather than the ‘working things out’ side.
My trade, as I write this, is running at just under 60 pip profit. Which, since I am trading micro and each pip is worth 10 cents, is just under $6 obviously. This may not sound a lot to most people, but considering my account is at $45 ( down from the original $400 ) I am itching just to close out the trade and take what would be my biggest profit to date ( 60 pips )
There is also the psychological boost it might give me to see my account go back over $50. But then my actual TP for the trade is just under 1-42. Just nervous about giving back what I have just now.
I have moved my stop loss down to 1-4415 ( opened at 1-4431 ) to lock in $1-50 just to scratch the itch a little.
HoG
H o G, my admiration for writing this post one i think many new to forex need to read! I too took a heavy lose to my capital when i first began to trade a few years ago i had a good system, tripled my acc, but poor money management made me more of a gambler dropping me quickly down to size! as well as the weakness on psychological side! The psychology still an area i am hard pressed to manage and continue to improve. All the above easily practiced on the demo accounts but real money provided the real emotions behind every trade, something time, practices and good advice brings to control (all provided by the awesome team @ babypips!) Good luck looks like your doing a great job with great help!
Hi Terenacious
Good to hear from you. As I write this the EUR/USD is around the 1-4304 mark so I have moved my stop down to 1-4365. This has locked in 65 pips for me but most importantly taken my account back over my $50 psychological barrier and satisfied the ‘itch’ to close the trade.
So I’m happy to let it run now to see how it gets on. If price pulls back up to my new stop I’ll re-assess and decided if a new short is still viable.
It’s all mind games in the end !!
HoG
Nicely done. Sounds as though you are on the right path with the psychology, too.
I am 37, so first saw The Saint ‘live’ with Ian Ogilvy in the 1970’s, but that gave me the bug so must confess to owning all the earlier episodes on DVD, am (re)watching the black and white ones currently, I’m definitely a fan.
Life is like trading, really: to have a shot at understanding the present and future, it helps to understand the past.
ST
Seems like we just hit the jackpot this time… price is heading towards 1.4180
I locked in +160 pips 
If price goes down below 1.4250 (support), then probably it will retest the 100 Daily MA
I expect a rebound from there
If the rebound happens there will be a HUGE symmetrical triangle in formation on the daily chart… more pips for us!!!
Hey yunny1
I moved my stop down to 1-4340. It locks in 91 which is never a bad thing. Well done to you for the +160. Still trying to give it some room to breathe just in case it does bounce a bit. Even if it does I’ll take my 91 with a smile in my face.
HoG
Still in… EU (SL now at 1.4357) & GU (SL now at 1.6310)… currently 294 points.
EDIT: 403. I’ll close out at London close!
I have closed my trade at 1.4210 as it has hit the bottom of the channel and 1h RSI is extremely oversold, it might have a another leg down to 1.4150 but for me i walk away happy with 275 pips
Nice call yunny1, congrats! It seems your art is useful (at least to you).