Posts Tagged trading mistake

Dont go chasing the market – GBPUSD got burnt

Dont go chasing the market - GBPUSD got burnt

The chart is a 5 minute chart of the GBPUSD. I had woken up later today than usual to see that the market had moved. The two horizontal lines show where the long and short entry should have been but as I was late and saw that the market had already moved 25 points away and that I was feeling that I missed out on the short.. I entered a short manually... whilst it did move 30 pips in my direction which would have usually been bagged..  for some reason, my brain wanted more (I had a target of 100

April 16, 2010 No Comments Full Story

GBPJPY reaches it’s target….

GBPJPY reaches it's target....

I felt that I had to put this chart which shows that the GBPJPY did indeed reach the target I mentioned at 15645 and then promptly fell (note the stochastic move below 80)...  this should have been my trade if I had followed the rules... it would have been a lovely 95 pips in the bag... this chart will remind me of the missed opportunity and the reason why one needs to stick to the gameplan... As I write, the GBPJPY price is at 15620.. it bounced perfectly off 15645...

June 4, 2009 No Comments Full Story

Stupid trading mistake – kicking myself

Stupid trading mistake - kicking myself

I have been quite careful of late and this has benefitted my trades.. I have found that the best trades are those which are 'boring'. When I say boring I mean that they do not give me the excitement which I experienced before... I just put them on and wait patiently. Sometimes I am not patient and end up closing them too early. Anyway, one of the terms I have heard before is 'bottom pickers get smelly fingers' referring to those who try and time bottom of markets and this also corresponds to

November 11, 2008 No Comments Full Story