thought process

I don't use this blog as a journal. I post trades when I have something to say, not just as a
record. I wish all my trades are worth posting, but unfortunately in the end for some of them I don't now why I got in or out of them :-).


I entered today because it looked on higher t/f like retracement and on smaller like opportunity for early entry and small loss if it goes down. Immediately market started going up giving me adrenalin rush of a good entry. But soon it started going back. Well because of a good start I decided to give it a more room even that a price made new low. Good sign was that I didn't start averaging down, usual symbol of bad choice about future of a trade. Shortly market started flying up, I wanted 30 pips as a target so t/p at 51. But it stopped. I said ok, it's natural, it was to fast, let it rest. Well resting wasn't resting but another swing down. I again stayed, plus for me because usually I would get out with 1-3 pips of profit just for sake of profit. Now I was thinking if it can go to 40 it can to 50 especially if it doesn't make lower low. So I stayed again. Looking from aspect of 1min t/f it's a lot's of staying. I drew yellow lines of formed channel. It got up to near 40 again and I didn't get out. Patience, I was saying to myself. Well on a last swing 30 - 40 it broke my channel, stayed up for few minutes. But there was no follow through. Braking of 40 level should accelerate price on gbpusd, but there was no flying up. So I said I would not stand another swing down, going out.
17 pips, with 5x leverage.



In the end after more than 1 hour it went no where. I'm glad that I'm out.