Experts, help me please!

The stage midouch is at and his frustration is, as I said, and as you already know, a normal part of the process. There’s a lot of stages where quitting would give some instant relief but his confidence is clearly being challenged ready for the next stage. That’s why I got hissy at you telling him to quite. Time out is sound advice, a reality check can help him overcome his fears, thanks for coming back with something more constructive.

USD/CAD is killing it for those that were short. I actually just took profit on that trade because I feel like it's gone pretty far pretty fast and it hasn't been moving much in a straight line until now. I'll re-enter should we see a bounce.

Now, a couple thoughts on psychology because I'm sure a fair number of you are freaking out. There are three groups of traders panicking right now:

1) Those that were short (from wherever) and took profits for a measly 100 pips or so and then decided to re-enter on a pullback probably sometime last night in the mid 162's. My take on these guys is that you are not a swing trader and should not be in this thread. You got greedy. You've made your own bed, now you have to lie in it. Sorry, but I don't have any sympathy for this group.

2) Those that took our initial trade of selling around 165.00 (or some of you got it higher) early in the week. But you added too aggressively as I mentioned here. Now you're underwater and freaking out. At this point, you need to assess your own risk and either hold on because you believe the trade will work out and you are NOT going to add more, or bail out so you can think with a clear head. Whatever you choose, learn from your mistake here.

3) Those that took our initial trade of selling around 165.00 (or some of you got it higher) early in the week. The difference with this group is that you added to your position responsibly or did not add at all. you're still well in-the-money on this trade... probably to the tune of 100+ pips. Good on you! But you're still freaking out. You saw the trade go well over 300 pips in your favor and now you're only up 100?!?! Not fair! Well, that's the life of the swing trader and if you're not used to it, you better get used to it.

The key for this group will be to not panic and understand that nothing has actually changed yet. The true test will be if/when we trade back to 161.50 -- do you take profit and congratulate yourself on bailing out of the trade having grabbed all the pips you should have grabbed before? If so, you've learned nothing about swing trading.

Or, do you hold tight when it matters the most, let price trade through 161.50, through 159.50, perhaps down to 155.50 and beyond? If you can do that you will learn a lot about swing trading and a lot about yourself and your own psychology. If you can do that, you will have a hell of a trade and you will make more pips in a week than others make in months (or ever!).

We were faced with this exact same scenario last week. Some traders closed their shorts when we traded back down to the bottom of the range even though I told them they'd want to and they shouldn't. Some stuck it out with me and we made a boatload of pips more.

Which will you be?

This is the quality you can gain from FF if you only search and read, this guy is helping people just like you ,no nonsense and very sucsessful and he has a following of equally tallented traders who give you their insights as well,what a gene pool to tap into for free i cant even start to quantify value here .

^^^^ Uhhh ok. So you started with UCAD but moved onto GBPJPY.
I did notice the excitement and anticipation going around. I am curious to see if it can go past the 161.50. Now I did notice the pin bar rejection on the down trendline from Sep 2015 on the daily chart. But I will want to see it happen before making a move. I rather bet on what I see rather than in anticipation.
You have a pertinent point. Psychology of a trader - that is indeed something to work on.

Maybe you are a pro trader, that’s why trading is simple to you! Forex trading is a challenging profession, but it’s true knowledgeable Forex traders are able to make regular money here!