Posts Tagged trading mistakes

Don’t Mix up your Trading Systems else this can happen!

Don't Mix up your Trading Systems else this can happen!

Today, I took a trade using my usual support/resistance techniques. I had seen that WTI Crude had some trouble around the 100 mark and also had penetrated the Daily Pivot and looked like it was to fall. This was a pure price action trade and I went short at 99.82. My initial target was 97.55 which is around 230 points. However, I've also been looking at another trading system lately which was sent to me by a friend of mine who I know has been doing very well. When I looked at the WTI Crude Oi

December 14, 2011 No Comments Full Story

Winning Trades which make no Money

Winning Trades which make no Money

This was me today... I put in an order for a buy on the GBPUSD at 16018 or a sell at 15956 with a 20 pip stop and a 40 pip target. As you can see from the chart, the GBPUSD shoots up and actually goes beyond the 50 pips... However, I made no money on this trade at all. At first I got really annoyed, an easy 40 pips in the bag and my broker has screwed me over. I checked my emails and can see that the order was being placed, however, I had forgotten to fund the account properly and t

November 10, 2010 No Comments Full Story

The importance of sticking to your Trading System – GBPUSD Forex trading

The importance of sticking to your Trading System - GBPUSD Forex trading

The graph today looks like a simple and straightforward set up... the upper barrier is 15288 and the lower band 15236. The market broke towards the downside and one would have claimed some nice and easy profit.. this is the trading system that I should be trading... however, I lost today!! The biggest problem here was that I did not follow my trading system...  to be a good trader, one needs to be disciplined and follow his or her system... I'd been talking about this and yet, I didn't follo

April 28, 2010 No Comments Full Story

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