Ferrowolf's Den of Trading

Still building my humble Den, so please bear with me, it'll be done soon! =)

GBPJPY trade taken 21st Oct

Analysed this trade correctly, but managed it horribly.
I had already set my stops and the EA to move the stoploss at the right levels.
However, I started 2nd guessing myself and decided to meddle with the trade.
I got out much too early, totally messing up a big winner.
Got to watch my emotions.
Explainations on the chart.

GBPJPY trade taken 21st Oct

October 21, 2009 Posted by | Uncategorized | , | Leave a Comment

GBPJPY 2nd trade 20th Oct

My patience tends to wane thin at night it seems. Prob too eager to go to bed or something. lol
Anyway, I definitely got out of this trade waayy too soon.
Price just hit my initial target. So instead of a 2R trade, I got just a 1R trade.
Think sometimes it’s better to just leave a trade running, especially when the stop was moved to breakeven already.
+28 pips, 1R trade.
That makes today’s total
+78pips, 4.125R

I realise there’s a slight problem with the results, I risk between 1-2% of my capital, so as hard as I try to be consistent, the best the R multiples can show are the risk/rewards of a trade.
For example, today’s gains were 4.125R in total, however, the actual increase in my capital is 4.82%
My risk/reward ratios have been improving in the past few weeks.

Explainations on the charts.

GBPJPY 2nd trade taken 20th Oct

October 21, 2009 Posted by | Uncategorized | , | Leave a Comment

   

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