DislikedHi All
I have been short from the weekly pin 2 weeks ago after my order triggered last Friday at 9825 Price retraced quite sharply but I had decided to give this a bit more room being a weekly trade.
Chf seemed to be strong yesterday against all other currencies which has favoured this trade and a BEOB has now formed on the Weekly.
As the price closed yesterday near the weeks low I have now closed this trade. Reason for this is firstly I expect to see some retracement and secondly I think the BEOB could be traded so I can get back in around...Ignored
Holding on to your analysis, your trades, your thoughts, is so damn important. And nothing can teach you this better than holding on to a trade 100 pips in red for 5 days in a row and then going in the right direction finally.
Here's an example similiar to what Ijr posted above, I was short Eu off the weekly Pin Bar, huge resistance at 1.43, close below 50 fib, a bearish IPb right next to it...the idea was and still is to catch the ride with the bears...
All this week it kept me in the red, at most -150 (only a few pips from my SL), but still managed to close as a decent indecision bar,
Point is, when you make a plan you need to stick to it...Jeff talked abt this in his last post and this is just one more occasion where "sticking to the plan" does appear to work..
How to master controlling emotions? You guessed it. The higher time frames.
Ghous.
EDIT: was not aimed at you Ijr, just a general thought. The reason your trade ended up as a loss for you is pretty special. We hope to see him/her on the thread soon.
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I believe . . .