The best or worst...

Maybe we will see $0.70 again and then it will drop a little and stabilize...

https://www.forexfactory.com/showthr...5#post13016575

I was a bit busy yesterday and almost all day away from home so I only took 1 trade on GBPUSD (number 1) but it was not the perfect place so I moved SL to BE + 1 very quickly and it ended in about 1 pip profit. As for today's trade, from now on I will focus only on mistakes because you already know my "positioning pattern" and I do not want to spam here. Trade number 2 on GBPUSD I think is good, entry was accurate and I closed in the zone in which I assumed that I would take profits. Plus 20 pips. Due to lack of confidence I didn't take another trade (3) it was a good opportunity in my opinion. Now we are moving to EURUSD number 1, here a bit less profit but trade also carried out correctly although a bit "I fought with myself" not to close it earlier when I noticed the price reaction, but due to the fact that I closed the previous trade (GBPUSD number 2) in a satisfactory profit, I decided to wait because SL was already on BE + 1 and my take profit zone was far away. Price made a small correction and I moved SL under it. Closed position at around 2 pips in profit. I was counting on more but the market decides, not me. Number 2 was bad trade, entry was too late and at this point it was "too obvious trade" (at least I call it that way) and it was a late European session hour. Very narrow SL so the position was closed at -5 pips. Overall, the day ended with 17 pips of profit.

My lessons for today: 1. Be more confident in your decisions (but do not overdo it) 2. Do not take "too obvious trades" and do not take positions at the end of the session.

PS: I'm thinking of joining "1 lot boys club" to increase my tolerance for larger sums and slowly getting my brain accustomed to it. We'll see ...

Today I lost 2 trades, little sad about.
But I am gonna analyze my trade that why
it didn't go in my favour and will improve
my mistakes. As not everyday is your trade day.

Let's start with GBPUSD, number 1 had bad timing, I took a position at a level where the price often reacted and the potential stop loss would have to be quite large so I quickly closed the position. The direction I assumed was good but the moment when I took the position was not. The next trade was better, there was a strong impulse, the price did a "fake correction" (I call it that way) and then confirmed the downward direction(Check your M1 chart if you want to see better.) so I decided to swim with the big boys (you will be able to see a similar position on EURUSD, we will move on to this). The price quickly approached my TP zone and I closed manually seeing the price reaction.
Now let's move on to EURUSD, more was happening here ... not necessarily better. The first position was taken at a similar moment as GBPUSD but in a much better place, it was supposed to be potentially more mid-term trade but the market decided otherwise, so the position was closed after moving SL to the second correction. If not for the fact that the profit target was much bigger, I would close after"crossing" of the first correction. Number 2 is the trade I mentioned earlier, here I also wanted to swim with big boys but I took a position like a noob trader, too early without waiting for "fake correction". Closed position with a small SL. After confirming the direction I took the 3rd position and closed it near my TP zone after the price reaction. Yeah, I know that my "price reactions" usually get a little too early ... I'll work on it. The last 3 positions is a battle with the market, which I lost, although I did not lose money. The direction I took was correct, but I lacked my confidence and was not happy with the fact that this is a late session and it broke my rules a bit (Although about 3 hours after opening the US session is that late?). I finished the day with around 15 pips of profit. Overall it was not a good day and my performance.

My lessons for today: Be more confident and patient. Don't trade when you're not one hundred percent sure it's a good time.
PS: I hope my "drawing abilities" didn't make the chart illegible.
PS 2: Maybe some more experienced trader would like to talk about his methods for managing the position by private message? I don't want to have a discussion here because that's not what this thread is for. I abuse Froggy's hospitality anyway with my long "reports".

Enjoy the thread my friend. This is what the thread is all about, so please feel most welcomed and any one else!

Today the market is acting a bit strange for me, so no trades today. I end week with around 50 pips of profit. I learned quite a lot this week but I also know that I still have a lot to learn. In particular, position management and determining whether the trend or"micro trend" has already ended or not yet. And I think I need to limit the use of M1 charts because it's easier to make a mistake there than with higher time frames. I have the impression that the trend always lasts longer than I think, I have to work on it and "feel" it. Renko charts would eliminate the "problem" with timeframes but I can't use it as well as I would like. I know a person who has about 95% accuracy with renko ... maybe one day. I wish you a great weekend! Have a life, don't read like me all weekend.

New week ... new things to learn. This week I will continue my affair with EURUSD and GBPUSD. Monday so I was expecting only "warm-up trades". We will start with EURUSD- Accurate entry and exit although in this case I did not move SL to BE + 1 because I was shopping at the moment. Closed position in my TP zone, but I have to focus on the "bigger picture" and establish larger TP zones. And ... I missed the second trade because I had dinner.
Let's move to GBPUSD- The price was in the zone in which I would expect to move up, but due to the strong downward impulse, the price had big problems with it, so learned from my previous mistakes in this "style", I closed positions with a small profit very quickly.

This week I will work on avoiding trades against the trend. (I do not mean the trend from some time frame, I mean the one that is the most important and "fresh" for me when I take a trade) I will also focus on the "bigger picture" to maximize potential profits, In particular when it comes to managing positions and deciding when to take profits. Green week for everyone!

An interesting day today ... A good test for many strategies and traders. I scored this test at around 50%. Let's start with GBPUSD- In trade number 1 the position was taken too late and I decided to close quickly because in my opinion "there was no room" for dynamic upward movement. Trade number 2 was bad trade. I moved the original SL too quickly and the position just closed on it. I was also not 100 percent sure about the direction, which is why I moved SL to protect myself against greater loss. Trade number 3 is good. Quite accurate entry and exit after I saw the price response at a level that is important to me. Now let's move on to EURUSD- Trade number 1 had a good entry with small SL. I tried to improve my position management and focused so as not to close too early ... unfortunately I did not take into account that it was a trade against the trend so I should not expect a big move.. I should close it seeing reactions at this level. Position was closed on SL + 1 because I moved SL quite quickly seeing a big upward impulse. 2 and 3 were bad trades. Position number 2 was taken to continue the upward move, but seeing the price reaction and thinking that we are in a downward trend, I decided to close the position. Trade number 3 assumed the correct direction but I lacked confidence to hold it and closed it with a small profit. Of course, I did it too early, in this case seeing the price reaction in the downward trend should hold this position longer. Trade number 4 a similar situation to GBPUSD, quite good entry and exit, after the price reaction. With the last two positions on both currency pairs I wanted to make up for the loss with GBPUSD and I was very careful, I was waiting for a good signal so they were quite good trades. I always have to approach them this way. To sum up - Today trader could earn a lot or lose a lot, I managed to earn only a little so I'm not happy with myself but I will learn lessons from today. About 14 pips of profit form today trades.

Another interesting day and today it was without stupid trades. Only 2 trades today, both quite accurate entries but exits as usual a bit too early ... Only GBPUSD closed almost in the right place, due to the level from which in my opinion the price could react strongly up. However, EURUSD did not have such a level ahead, so I have no excuse here. Both trades gave about 15 pips of profit. I need to improve position management ... and more specifically when it is a good time to close and when not. It is not so tragic but I often miss big moves that I could take with SL on BE + 1. I will search Forexfactory but I suspect that this knowledge can be acquired only through experience and chart time. Anyway, if someone more experienced can help me, I will be very grateful.

why are you dissatisfied, make your profits
what more do you want

For me it's not just about profits, I would like to do it better, more efficiently. The constant pursuit of improving my skills is the best part of this "game". Please, don't get me wrong, it's good that I made money today but I also see how many mistakes I made and that it could have been played better.

mistakes occur automatically, you will never correct them
You will only get better if you understand in which areas you are trading in a market

I see you don't use an indicator as a help
that's a good respect, I would be blind in the market

Yes, you are right that I will never eliminate all mistakes( They are part of the "game", there is always a risk), but I can eliminate the very "basic" ones and I try to do it constantly. Thank you for your comment and advice.

Yea, everyone can have a different approach to the market and earn money at the same time, and that's beautiful

thank you, you will master it already on the best way

I was busy yesterday and today so no trades. I finished this week with around 30 pips in profit. My weekly profit target is 100 pips, after this amount I will no longer trade. I hope that i will reach this level regularly soon. Have a great weekend everyone!