DislikedNote to myself: Today I wrote down all mistakes that I did for the day. I've payed for this lesson with four faulty, bad trades with 30 pips...
(please don't blame me for these mistakes. Yet I'm not clever enough to stop doing them again and again even if I know the rules since the very first day...maybe someone else is doing the same mistakes too...)
1. Don't trade against the trix of upper timeframes!
2. Don't enter a trade if the trix is near to possibly turn!
3. Don't trade when the market (trix) is overbought / oversold!
4. NEVER...never...Ignored
A classic example was this past Friday afternoon. All the macro indicators and more importantly the fundamentals pointed to a decline in the EU and I was short. Then, after lunch towards the close, it spiked on a stop hunt and some big players running up the price to add to their shorts - so I did too and came out of it overnight and this Monday morning with 90 pips. The moral of the story, for me, is to look at the big picture.
Good Luck!
PH