Tuesday 16 April 2013

Forex tip: Don't chase a trend!!!

It is early in the morning and I woke up early because I had to go out later in the day.

So, I wanted to do the things that I wanted to do before leaving.

In this post, I would like to share an important tip when you trade Forex.

 

Have You Ever Chased A Trade?


Have you ever felt that you missed a trade or two?
You keep blaming yourself thinking why didn't you take the trade?

or

You got out from a trade too soon?
You only made 50 pips when you could have made 150pips because the trend was strong?

If you have been trading for a while, you will know what I mean.

As traders, we can't be monitoring the chart 24/7. We are not robots.
So, we will definitely missed some good trades.
I missed one yesterday.

In fact, it is not a missed.

I just made less profit because my entry turn out to pull away into a 150pips++ run. Anyway, i onnly bagged 50pips.

here is the entry of my trade



As you can see, the trend went on strongly after it hit my take proft at the'exit'

But no matter what, I profited a nice 50pips yesterday and went on with my day.

After I entered my trade, I had to go out, so I was not able to babysit the trade.

Nevertheless, I was confident about my trade.

 So. my point here in this post is to emphasis to you trade it is okay to earn less with your forex trading.

Earning less is much better than LOSING don't you think ?




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Happy Trading!!!

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