Another max loss day. I'd like to continue to trade today but I know it's not in my best interests. I don't want to risk looking at a negative 30 pip day.
There was at least one warning sign that could have prevented me from taking further losses after my initial loss. In addition to my 1st loss there were 3 other trades that were essentially misfires. This could tell me that I'm not reading the market very well and I then could know to step back until something changes.
I'll also say that I knew these final two trades were riskier than most because they were at extremes.
Days like this wouldn't matter as much if I could do better at maximizing my gains when I'm in sync with the market.
At least you can stop where you decide it's your max loss. Congratulation on that from me, because I know how much that is worth.
ReplyDeleteunderstanding the market is tough and it's the hardest part.
ReplyDeletereading the market requires years of expierence, and recently the FX market itself is confused.
FX - Thanks. We should blend our trading. You take stops as easy as me and I'll stay with a trade as good as you. Perfect trading! haha
ReplyDeleteRCM - Yup. Never ending process. Hopefully I'm getting towards the end of the tunnel in terms of "years of experience" but only time will tell!