I traded too much and traded a couple of tester strategies which I should be assessing off-line rather than using hard cash. If I had just stuck to my main trade strategy this morning I would have been healthy in profit after good trades that followed my rules on GBPUSD and EURJPY. My bad trades wiped out this profit and some – losing 1.5% on the day.
The tale of two trades can be seen here.
1)Long on EURJPY after a “Breakout” of a range that had been going on for an hour or so with my target of the daily high made earlier in the Asian session – what strategy was that following other than a hunch ???
2) Short on EURJPY that followed my Snapper Strategy perfectly and took my 1% on this trade
To take a positiove from the day was that after losing on the first EURJPY trade I was able to stay switched on and see my strategy setting up shortly after. I think in earlier weeks I would have been a little too pissed off to have stayed focussed.
I need to work harder on :
- Trading Less and fill my boots and not the brokers
- Only Trading my strategy
Good luck with your trading