not fooled by random market and by technical analysis

long audusd it just looks like high momentum high probability trade......but it could also be read as being high in trading range.........and that is the risk

 

Perhaps, because of sunk-cost fallacy?

 

stop was in the wrong place ...it should be below the swing low......and so i placed it there
since probability is high, reward will be not big and risk big.so the new stop makes better sense. also breakout from a large and big trading range may lead to big pullbacks before it moves up

 

this is in the journal section so only comments made in response [or about] to specific trades will be answered.

 

closed trade

 

sold audusd

 

shifted stop to BE

 

the main important thing in trading is to know a slow down in momentum from a reversal of momentum

this difference i learnt from TONI Hansen

but it is never a matter of paying or learning a lesson and making money.

it takes some time-sometimes a lot of time -to learn all the finer points that can only be learned by actually trading live

 

closed trade

 

sold audusd