sweatyslouch
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You love buying tops and selling bottoms dont you
This is what makes the market! My plan for the AUD/USD was this!
You love buying tops and selling bottoms dont you
AUDUSD
buy 1.0446
SL -30
TP +30
Hey Guys, I don't trade real account on fridays because I don't want to to be in a position where I am holding over the weekend. More to the point, tempted to hold a losing position over the weekend because I dont want to book a loss that isn't yet at my stop. You probably know what I'm talking about or you are a better trader than I!
Doesn't mean I stop analysing the markets though..It's nice to occasionally plan and watch trades without real bucks on the line..Over time this helps me condition the mind to not let the money aspect of my trades hinder my thought process.
I'll be keen to watch if this pans out in the NZD/USD at all today.
AUDCHF Short EP 1.0210 SL 1.0235 TP 1.015
long
-25..........+60 for the week, a few mistakes this week
short gbp/usd, 1.56883, stop loss 1.57387
-50 . . . i could hit it again and not feel bad about it at all.
in fact, i think i might - short 1.57233 (gbp/usd, stop loss TBD)
live/ public journal effect..............trading against your own plan
TP reached
*moral of the story, trade your own plan, not someone elses
.
very true.
the kind of situation where I'd bracket with a Buy Stop and a Sell Stop and leave the direction guesswork out of it
Just to let you know I didn't necessarily disagree with your rationale when I made that joke saying "buying tops - selling bottoms" so I apologize if I put you off!
Just keep in mind though, your TP would have never been hit anyway... your stop would have first at -30 from where you entered....
You would have had a maximum draw down of -38 on where you entered before it turned to go into profit.
Either way you had the game plan for long, so I agree, definitely stick to what works for you if you have the confidence in your set-ups!
Would you mind illustrating how you would actively trade that using the chart, in this situation, the EURJPY? (as I am curious to see how you view this because I have been interested in how people manage this once in the position)
Are you saying in the situation specifically in connection the EURJPY setup, you`d place orders above and below (sell and buy) at specific prices so that you`d in essence, capitalize from a break up and down (i.e. "bracket"?) with a pre-defined TP?
(assuming I am right on what you`re saying) Would you mind illustrating how you would actively trade that using the chart, in this situation, the EURJPY? (as I am curious to see how you view this because I have been interested in how people manage this once in the position)