Three mistakes I made...
Who would have expected that I´m back that fast? - Well, I was stopped out on the EURAUD Trade. And, I somehow knew it before. Why? - I have made three mistakes, here they are:
1. The EURAUD is very volatile - therefore the SL of 35 Pips was not enough. It was however way to much for me in the first place. I didn´t feel comfortable with it - still I set it this way. Why? I don´t know. But: if you don´t feel comfotable, don´t place the trade!
2. I didn´t stick to the 1hour TunnelMethod rules. Why? - I placed the SL below the actual EMA (and Tunnel). If I would have but it at the right spot, I wouldn´t have gotten stopped out - but, I would have also risked around 60Pips. Wow. - This problem refers to No.1...
3. I was rushing this trade. Don´t rush, if you in a hurry, don´t trade. Take your time to look at it carefully - this time, I didn´t! The result, a nice 35*2=70 Pip Loss - good job!
Untill a better Trade next time,
The Stockinvestigator
1. The EURAUD is very volatile - therefore the SL of 35 Pips was not enough. It was however way to much for me in the first place. I didn´t feel comfortable with it - still I set it this way. Why? I don´t know. But: if you don´t feel comfotable, don´t place the trade!
2. I didn´t stick to the 1hour TunnelMethod rules. Why? - I placed the SL below the actual EMA (and Tunnel). If I would have but it at the right spot, I wouldn´t have gotten stopped out - but, I would have also risked around 60Pips. Wow. - This problem refers to No.1...
3. I was rushing this trade. Don´t rush, if you in a hurry, don´t trade. Take your time to look at it carefully - this time, I didn´t! The result, a nice 35*2=70 Pip Loss - good job!
Untill a better Trade next time,
The Stockinvestigator
posted by The Stockinvestigator at 1:46 PM
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