Market mistiming on the GBPUSD

Last week the markets were in turmoil… however, there was plenty of opportunity for those who like to play the markets.. unfortunately, it was a horrible week for me.. I got excited by the markets but frustrated to see that I had missed most of the action when I got home and ended up paying with my account. Luckily, my account isn’t large and any losses are generally covered by the sponsorship I make on the blog..

However, I got back into it and last night put on a long on the GBPUSD. It was looking to go up and I got in at 1.7120 or so with a 100 point stop loss. My stop was hit as I slept last night and then reversed reaching a peak of about 1.7410… just under 300 points. In times like this, I get frustrated… my market mistiming meant that this excellent trade was due to my bad timing and not analysis. That’s the problem with trading part-time like I do.. trading is such a tough game that I really should be able to dedicate myself 100% to it or else it is not going to work. In fact, I met a guy who managed about £15 million of investors money and he said that the only way to make a success of it was to go into it 100%… he said you really can’t do anything else if you want to make this work. I have been thinking about it carefully.. I have a great job in the corporate world and have a few more rungs on the corporate ladder which I want to climb.. at the same time, trading the financial markets would be an ideal endeavour and I have a lot of passion in it.

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Category: Forex trading, Trading