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Word up. I did way better today then I've been doing recently. However today's trade still left some room for improvement because I didn't let it hit my target @ 6200. The reason it was important that I let the trade run ALL THE WAY to my target is because I knew the GBP/USD was probably going to over shoot the 6200 mark to the downside by at least 15-20 pips. I was immensely more patient with this trade then I've been with my other trades recently so I'm very pleased about that. I managed risk very well on this trade in terms of moving my stop when appropriate etc...
Have a great weekend!
I did something wrong on 3 out of 4 trades today. Even though my first two trades were winners I didn't let my profits run by trailing my stop. I have a negative P&L today because I didn't manage my winners correctly. The third trade, even though it was a loser, is the only trade that I managed correctly. The trade simply didn't work and hit my stop. On the last trade I'm classifying the mistake I made with it as being too impatient. I got in too early but I did a good job recognizing this fact and I got out with a small loss instead of letting it hit me with a full stop out.
I would have liked to see more resilience on my part after the 4th trade. A Long re-entry after another failed push down would have given me another chance to prove that I actually do let my profits run!