Evening All,
GBP/JPY off 1 minute chart. Finally saw something Live. Last 2 days I was in negative. Trigger Happy and lost like 5 trades. Rushed a bit and the last one was more of a revenge trade which was my biggest loss of like 4O odd pips, where i increased the lot size to cover the other losses. Human nature and learnt my lesson. I have recently started trading live and on a part time basis so it hurt a bit more. Well went back to smaller lot size and saw this early. As i have said before i see every trading setup BUT after it has happened...lol. Out of 10 i may see 1 before it happens and thats why i have 3 to 6 trades a week. And even then i suffer losses but with small stop loss my account is still surviving. Patience is the key. If you don't see it or even if you feel ur setup is off by 5% don't trade. Hard but it helps. Also try not to move ur stop loss to cater for swings cos if u were happy with ur setup in the first place then its better to take a small loss then to wipe out ur account. Adding to winning trades or trailing stop is ok as long as you have banked some profit and are atleast at break even with add ons.
GBP/JPY off 1 minute chart. Finally saw something Live. Last 2 days I was in negative. Trigger Happy and lost like 5 trades. Rushed a bit and the last one was more of a revenge trade which was my biggest loss of like 4O odd pips, where i increased the lot size to cover the other losses. Human nature and learnt my lesson. I have recently started trading live and on a part time basis so it hurt a bit more. Well went back to smaller lot size and saw this early. As i have said before i see every trading setup BUT after it has happened...lol. Out of 10 i may see 1 before it happens and thats why i have 3 to 6 trades a week. And even then i suffer losses but with small stop loss my account is still surviving. Patience is the key. If you don't see it or even if you feel ur setup is off by 5% don't trade. Hard but it helps. Also try not to move ur stop loss to cater for swings cos if u were happy with ur setup in the first place then its better to take a small loss then to wipe out ur account. Adding to winning trades or trailing stop is ok as long as you have banked some profit and are atleast at break even with add ons.
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