ThinkExist Dynamic daily quotation
“Many of life's failures are people who did not realize how close they were to success when they gave up.”
- Thomas Alva Edison
prayer

Friday, May 14, 2010

trade 77 .... what went wrong??


EURGBP entry @ 0.8574, SL @ 0.8620, TP @ 0.8482, BE @ 0.8558.

It was down trend , i entered according to plan. it was 1 pip shy of my BE point, then it went on to hit my SL. A loss of 46pips * 2 lots = 92 pips. What went wrong, what can be salvaged from this trade? Well it was my mistake as i took this trade the 15 min trend and 60 min trend were up and the 240 min and 1440 trend were down. clearly the market was not sure of going where. I should have avoided this trade but i didn't (Deviation of Plan) , worst still when it was in profits i should have exited but i didn't (greed). When the trade turned against me i should have quit with a small lost but i didn't (hope) . What can i say, its all my fault i am 92 pips down..... :).

No comments:

Post a Comment