DislikedHow not to trade I went for the CT trade this morning before i went to work. Target 21... But price went up a little and then what i call bonkers down... Fatal mistake of novice trader... I saw my trade losing and yes, you guessed it kept moving my stop loss So, now i am stuck in a trade losing 50 pips and not wanting to take another trade until this one finishes.... but now my stop loss is 100 pips This is how not too trade...perfect example.. This is a learning curve..just wanted to share my experiences... We may get...Ignored
Sorry you got in this position buddy & thanks for sharing what you are going through. Even though it might be only a very small loss in $ terms , it still hurts. I only want to add my take on your trade so please accept this as friendly advice & not as a critique .
Your chart shows a Macd that looks a lot like a piano . In the last few bars we see green- red- green - red - green and I am guessing that because this last Green bar gave you an obvious Higher Low, you have taken that one as your trigger or confirmation to enter.
You are stuck in limbo at the moment and for what its worth , I would take my medicine now and that way you will remember this particular trade for a long time to come. As I write this, I see price moving back in your direction so a loss now is not so bad. Frame a snapshot of it for your wall. If you wait this one out, hoping & praying for a retrace and it does come, and you end up with a small profit even, you will soon forget the lesson about chasing trades and moving Stops.
I am quietly watching here for the chance to get back in Short. If Price can close below the 200 in an hour or so, the Macdwill give me the Trigger. Projections will be target the next BRN at 0.9400 which is also the 365ma. Stop just above the 0.9500.
Good trading mate - hope it turns out ok.