Trading the GBPUSD – stupid day for mistakes

Today was particulary annoying…  I had only set up one trade to go for 60 pips with the stop loss move to entry when it moves 30 pips in the desired direction….. except that I didn’t move the stop loss. I also did do my usual 30 pip trade!

Now, I must tell you that over the weekend, we had a system crash in my normal 9-to-5 job… this result in us working the whole weekend… I’d had very little sleep and in hindsight, when fatigued you need to be careful trading..  simple mistakes can occur!

So, even though I had managed to identify the long trade was 15272 and the short trade is 15228 I had executed it pretty badly! So, no 30 pip trade which should have trigger a short around 8am.. the market fell and hit a low of 15189 which would have given me my 30 pips. Usualy circumstances would also mean my 60 pip trade stop loss would have moved to breakeven.

However, I ended up placing one trade with a 60 pip target, didn’t move the stop loss when I should have and let it hit my stop at the other side of the channel which was a mighty 60 pip or so away! Ouch!

Anyway, a really annoying day… all my fault as I wasn’t able to follow instructions!

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Category: Forex trading, Spreadbetting, Trading