GBPJPY LONG. RISKY TRADE.

Risky trade I put up. Will explain more in abit.

i will exit when I deem fit even before price hits SL.

Busy with Mr. Goh medical documents now to be sent to lawyer. Will update in awhile.

1155SGT

27022024

Will be managing this trade on the Hourly Time Frame.

The Hourly TF's discounted mean price is 50EMA, and I entered based on that mean price as shown in previous transaction receipts as shown on the chart.

1200SGT

27022024

Anxious today due to many notifications.

Trade closed manually

Exited 1/1 trade manually at :

190.697 for a loss of -0.35R.

I think this loss was neccessary. I used to not know how to let go of losses because I do not know if I am doing the right thing or not. I used to hold my trades for hours, days and sometimes over the weekends, even when i was in the red, or when price went in my favour, almost closing me out for a profit, but collapsed down into the red, and exited for a "small" loss.

When price goes against you, know when to exit, and why. Doing the, "I will let my trades run to either side, and see my results after 100 trades..." is stupid!

If you are a small mom and pops shop grocer, if you know your goods is expiring, and still have lots of stock in the inventory, would you insist on selling your kailan or broccoli at 10$ per kg while risking your goods past expiration date and being in the negative in the end, or would you try to offload as much as possible, at cost price or lower, just to claw back some?

Live to fight for another day.

Don't dump all your fishing lures in to the sea just because a fish cut your line and taken off with one of your lure.

Live to fight another day.

1705SGT

27022024

ProfessionalDuckHunter

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

ProfessionalDuckHunter