I have started this to help myself and others who are interested in Elliott Wave theory in relation to FOREX trading. I will post my trades taken and the profit targets and stop losses as i take the trades. Hope to learn more and teach more. (DO NOT TAKE THIS AS SIGNALS i do not give signals. Even if you take the trades i am not responsible for the winning and losses:)
“Many of life's failures are people who did not realize how close they were to success when they gave up.”
- Thomas Alva Edison
- Thomas Alva Edison
Thursday, May 6, 2010
trade 70 and 71 KILLER TRADES
These trades were taken after trade 69, they went on to hit my BE point, BUT I DID NOT FOLLOW MY PLAN. I DID NOT PUSH MY STOPLOSS TO BREAKEVEN, I HOPED THAT THESE TRADES WILL GO ON TO HIT MY TAKE PROFIT. I AM SO FRUSTRATED WITH MYSELF NOW.............. lost 118 pips on trade 70 and lost 73 pips on trade 71.
What was i thinking, i don't know, i just wanted to trade as per normal. i just wanted to be a profitable trader. Probably i should have just let it go this week and start afresh next week. I really don't know, i just saw the opportunity and jumped into the trade, but i did not follow my plan...... well what can i say?? I can just be happy for the other traders made some pips on these movements.
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I'm so sorry man. If you are stressed, you probably should take a break. Also, now that I have a plan too, I can suggest you to always stick to your plan, review it if necessary but don't trade without it.
ReplyDeleteThanks for the concern bro. Anyway its my fault that i did not follow my plan. Well it happens and this time i paid the price. Also can you believe that i lost a total of 427 pips this week. Can you believe the amount of pips we can make, but alas i lost.....Well good luck and best wishes bro.
ReplyDelete427 pips a week is quite a lot but don't worry my friend, I believe you'll recover sooner or later.
ReplyDeleteThanks FFXD. I forgot about the losses. As they say in forex when you have a profit, forget it. When you have a loss, forget it even faster...
ReplyDeleteGood luck and best wishes