Long

EURCAD - Potential Trade (#3)

Updated

IF the market hits the desired level it will be really good position with
High certainty
Good Risk-Reward-Ratio
If the market goes higher before it retraces then this trade is no longer valid

Trade active

We got into a position and I have a risk of about 2% which is the max for me. I'm waiting for this 4h Close and if it closes under 0.382 I might cut a huge part of my position or close it. I'm gonna keep being Tight - remember the priority is not to lose. And the winners will come with time and effort. So let's wait for the 4h close and I'll update again. Good Luck

Trade closed manually

Cut the position

Note

wait for a retrace and then cut at least a half

Note

I managed to cut the position after I saw the 4h close under 0.382 which cost me 1% of my capital, It's not a lot but we could've entered with 1% not 2% and gradually add as the certainty increases, and we would've lost only 0.5% now.. But I had to pay for my overconfidence.. I know it's just 0.5% difference but why throw it away right.
If you want to make money consistently you gotta hate losing.
Lesson learned, we are better traders than yesterday, and this lesson cost me 0.5% but I'm sure It will make a lot in the future or at least save me a lot.
Good Luck, keep improving everyday.

TAG-Strategy-Trading

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