Following on from previous GBPJPY and some trading psychology thoughts

The chart shows what happened after I closed. The price action looped ripe for another entry short to ride the market lower but I felt anxious….


I am just not sure what it is but my instinct tells me to be careful… I attribute it to a couple of things, all trading psychology related:

  • The possibility of losing my 47 pips that I have already made.. it’s always nice to finish the week a winner!
  • The re-entry looks too obvious a trade… a bear trap perhaps?

Maybe I am thinking too much but once needs to feel comfortable. If the market goes down more I need to be composed, opportunities present themselves all the time.. I am not forced to enter.

We’ll see.. I’ll post another chart later to see what happened…

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Category: Forex trading, Trading