Unlucky Much?
Published on Monday July 12th, 2010 at 01:11AM by keicadelina
I seemed to have done something to displease the forex gods last week because I had a couple of unfortunate trades. First, my long GBPUSD trade that wasn't supposed to have gotten triggered actually got triggered! I was going for the breakout and I did set my entry order far enough above the resistance level. Unfortunately, the price movement was extra volatile during the European session open and the slippage probably caused my trade to get triggered. And just as fate would have it, the price moved against me and I got stopped out after a couple of hours. Next, the AUDJPY long trade went in my favor... 200 pips in my direction, in fact! The problem was, I wasn't in the trade because, for some reason, I decided to cancel it. Argh. That happened to be particularly frustrating because I was going for the big pips and it would've been my chance to erase all the losses on my account and even chalk up some humble profits. Of course, I'm kidding about blaming the "forex gods" and "fate" for these unlucky string of trades. Frankly, it's so much easier to blame something else than admit one's fault. It's easier to just attribute these tiny failures to other factors, like saying "I was busy and distracted so I couldn't concentrate properly" or "That shouldn't have happened; it's the broker's fault, not mine", when it shouldn't be the case. I guess what I'm saying is that trading demands extra effort, more than just coming up with good trade ideas. Extra effort to double-check if one's trade got triggered on the platform or not (and not simply relying on the charting software), extra effort to stay focused and meticulous, extra effort to keep track of one's progress and analyze one's mistakes. And from now on, that's what I'll keep in mind. No more leaving it up to fate or the forex gods...

On Tuesday July 13th, 2010 at 12:29PM by Ezakimak - Like - 0 People
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