Closer look at how the USDJPY's entry setup look like.
1630SGT 21032025
1630SGT 21032025
Trade closed manually
I decided to call it a day by concluding this trade as a set of trade, regardless of it being 1 trade, or 3 trades.This time round is special because I decided to close the trade out for breakeven(slight profit of +0.1R).
Everytime I conclude a set of trade(s), I will take a break and relax. Allow my mind to cool down. Recalibrate.
Overtrading kills.
Common wisdom are as such,
- Overtrading kills account.
-Overconfidence leads to over trading.
- Trading is a get rich slow scheme.
etc.
I think this time round, I am focusing on the overtrading kills and overconfidence leads to over trading.
Even for my previous entry records under, Trust The Process. I was profitable(in the oppoosite way), however, due to some small differences in the pairs I could take, and my eagerness to show a negative PNL on my main account(because opposite is true, and I take "real trades" on my opposite is true account with "real money".), I burnt myself out, and my overconfidence caused my confidence to give way. I stopped trading that method after I "realised I was trading the "wrong" way"".
Back to this 2nd set of trade(s).
I manually exited for a +0.1R profit.
I want price to go in my direction swiftly, or at least, in the time frame that I am not watching the chart.
Since it didn't, and price went back to breakeven, I don't want it anymore.
It doesn't matter what price do after I exit, because it's like I didn't take it in the first place, just like the thousands of setups which are similar to this usdjpy setup that I didn't take. Those doesn't matter. This doesn't matter either.
This is the conclusion of this second set of trade(s).
Let's take a chill pill, and sit back, relax. Let us recalibrate ourselves.
1351SGT 23032025
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Related publications
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.