westcountry wrote:Update:
I traded thursday night and friday. I made them into tough sessions, and I did not come out on the positive side. Three of my losing trades below.
Week in Review:
Overall I made +53 pips for the week. (Total 37 trades came out to be: 13 wins, 9 losers, 15 B/E)
The "15 B/E" trades I had last week are really making me think. Usually I move my stop to B/E after being up 5-9 pips, so this is making me re-look at that strategy.
Going forward:
Go back to a few clear setups/strategies (no "throwing darts" mode - see Friday trades below...)
Keep the stops small 10-12 max.
Slow down, execute as Best I can.
Stay away from GJ pair (spread too big)
Review my trades. {If I can't figure out from looking back at a trade on why I entered, I am just throwing darts. I need to know why I clearly entered.}
Keep doing the weekly stats, it really helped to look back and see what the heck I actually did in retrospect.
Looking forward to a new week. All the Best!
If your goal is to make more money then you need to buy more or if your goal is to lose less then you need to take profit.
A stop loss is not a tool for making more money nor is it a guarantee of limited losses.
Knowing why I entered:
1) my bias is to go short
2) price touched something lower &/or is currently lower than a line.
3) price is between two lines that I consider to be acceptable prices to go short