This doesn't occur with every trade i take but when it does wow it moves big pips
Ok let's say i enter a trade say maybe a sell on a eur pair maybe eurusd pair. So i enter the trade on a short. I set my TP but not my SL. Here's what happens price moves in the opposite direction after i have entered the trade so now it goes long so obviously i am in the red. Now i know this is a bad habit of mine but i don't actually put a SL in the hopes that the price will retrace and return back to my entry line so i won't have a loss. When i first started trading i totally didn't really pay attention to much but now i do. Anyway since when can i be so lucky to be on the opposite side of a changing trend right?
Well i was actually on the opposite side of a changing trend once using a live account. I was long gbpusd i think and it went short bearish and i think i was down lord maybe 300-400 pips before i decided to just cuit the trade before it could blow out my entire account. Another one was on a demo account.
OK when i am in a profitable trade i cut short the profits cos i ever had price go near my tp line and not hit so of course it pissed me off so i shortern the tp to hopefully make the profit so it's unlikely i have actually been in a long trending trade making profits and besides most experienced traders take out profit and hope tpo enter on a retracement.
Anyway what do you think of my "luck"? Like i can enter a trade hopeing to make say 10-20 pips but the trade can go in the opposite direction for over 100 pips of my trade. Happened a couple of times for me.
Ok let's say i enter a trade say maybe a sell on a eur pair maybe eurusd pair. So i enter the trade on a short. I set my TP but not my SL. Here's what happens price moves in the opposite direction after i have entered the trade so now it goes long so obviously i am in the red. Now i know this is a bad habit of mine but i don't actually put a SL in the hopes that the price will retrace and return back to my entry line so i won't have a loss. When i first started trading i totally didn't really pay attention to much but now i do. Anyway since when can i be so lucky to be on the opposite side of a changing trend right?
Well i was actually on the opposite side of a changing trend once using a live account. I was long gbpusd i think and it went short bearish and i think i was down lord maybe 300-400 pips before i decided to just cuit the trade before it could blow out my entire account. Another one was on a demo account.
OK when i am in a profitable trade i cut short the profits cos i ever had price go near my tp line and not hit so of course it pissed me off so i shortern the tp to hopefully make the profit so it's unlikely i have actually been in a long trending trade making profits and besides most experienced traders take out profit and hope tpo enter on a retracement.
Anyway what do you think of my "luck"? Like i can enter a trade hopeing to make say 10-20 pips but the trade can go in the opposite direction for over 100 pips of my trade. Happened a couple of times for me.
