Bad thing is that I didn't take stop and than I averaged down. It finished ok, but this is the kind of trading that punish me the most. What if market just dropped more from 300 level where would I cut loss and would I cut loss?
-3
I don't know what I'm doing today so better to stop. My risk:reward is not functioning in my mind. I trade in a way that I must make profit and it's not good. I risk way to much.
OK I have some idea about market action but I don't let myself option that ideas are false.
All this eur/jpy positions were full size. First position was 40 pips in red!! I can see that now and it's 3 times stop loss. No more trading for me today. It would be ok if I used 1/3 positions but no I was full size swinging and averaging.
I was looking eur/usd and usd/jpy. Idea was that eur level of 300 will hold but usd/jpy was falling and it wasn't the plan, I expected it to bounce back from 113.90.
Funny thing was that I was toying with idea to short eur/jpy at around 163.04 10min before my long entry. But it's trade with the trend and I don't do that. Probably this long eur/jpy trades come from frustration with impotence of trend trading.
In the end with averaging exit was +13
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