For our first trade on this currency.
Let’s do a post analysis and LEARN what happened.
In looking at the charts, I made a very STUPID mistake. My entry value was wrong. Entry lines are drawn from the Chikou Support/Resistance line plus a 5 pip buffer (plus any spread for the buying). For some unknown reason, I forgot to add the buffer. Therefore, our entry should be 1.6437, not 1.6442. Therefore, our trade never should have been triggered.
This mistake caused us to lose and took us from a winning trade to a losing trade. I will need to double check all my entry values from now one in order to make sure this critical error does not occur again.
For EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose .
