A trade that nearly went wrong with -54 drawdown at one point. My stop loss was set at 60 points away from the opened level. I should have exited with -12 pips loss this morning when I still have the chance. It really pains me if the trade was indeed stopped out.
9/8 Long USD/JPY 115.24
10/8 Closed 115.49 (+25)
2 comments:
I've been checking out your blog for about a month. You have a great blog, but I like to know your thought process on position entries.
I have tried to scalp using the minute charts but found it way too difficult and time-consuming. With the lack of strict discipline, the tendency of misreading the market directions and then messing things up is great.
Now, I only enter my positions using the hourly chart. I try to spot a small breakout in price at hourly interval but will not rush into a position if the price has already rallied too much. I would rather wait for a good entry level in other charts that I monitor.
Post a Comment