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Loss profit potential.

  • Post #1
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  • First Post: Apr 5, 2006 1:24am Apr 5, 2006 1:24am
  •  mvitachi
  • | Joined May 2004 | Status: Member | 22 Posts
Yesterday, I lost some profit potential because I didn't follow my rules for my strategy I just set my profit limit a bit earlier which I shouldn't have. The 3 pairs Eur/usd, usd/chf, and gbp/usd trended much farther than I anticipated and if I followed my rules then I would've made alot more profit.

Has anybody did this before?
  • Post #2
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  • Apr 5, 2006 1:51am Apr 5, 2006 1:51am
  •  NeoEx
  • | Joined Mar 2006 | Status: The Dreamer Youth | 16 Posts
Forgive my phrasing, if not correct. Hindsight is 20/20. If you second guess yourself you're handipaping yourself from step one. And again, it's only my experience, but a sound money management system that's ound is the first and most important rule in trading.

Yet, I'm a newbie, so what do I know?
  • Post #3
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  • Last Post: Apr 5, 2006 2:07am Apr 5, 2006 2:07am
  •  eastmaels
  • | Joined Jul 2005 | Status: J16G Expectancy Seeker | 676 Posts
Quoting mvitachi
Disliked
Yesterday, I lost some profit potential because I didn't follow my rules for my strategy I just set my profit limit a bit earlier which I shouldn't have. The 3 pairs Eur/usd, usd/chf, and gbp/usd trended much farther than I anticipated and if I followed my rules then I would've made alot more profit.

Has anybody did this before?
Ignored
NeoEx is right.. it may be due to hindsight that you're saying those "should haves"..
That's why it's important for you to have rules so that you don't focus on what happens because anything can happen..

Learn from the trade... There's more fish in the ocean..

Just my 2 cents though...

Oh yeah, you're asking if anybody did it before? Yup... I'm sure there are a lot, but it shouldn't encourage you to repeat it again..
As for me? Hmmmm... I can't seem to remember... hehehe...
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