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Easy Come, Easy Go... the story of my trading lifeI was quite happy with the way I had been going since I started my "fresh start", and I had made a decent profit (I was up by 33% on my starting capital). The problem is that I think the EUR/USD might have reversed on it's uptren. Unfortunately I made the mistake of buying buying buying to try to decrease my losses on a rebound... The rebound never came and well I'm back where I started! I'm lucky, that my stop losses saved me from being even worse off. Unfortunately I feel rather stupid as well, since I had my trailing stop for the original trade set to 50 pips though when I saw it coming close I didn't just leave it and get out of the rest of them that I had opened near the top, instead I cancelled the trailing stop and moved my stop losses down a bit! How stupid is that??? Oh well you learn something new everyday :) I'm happy to say that on my Oanda account which I've had running a few trades which I've basically left and just gone in and moved the stops up a bit every day or two, the stops were triggered and I made a couple of grand on that one, so now I'm up by 8k on that account (it's a 100K account that I've been playing suicide with).
I'm not certain that it's a reversal (might just be a period of consolidation?), I've opened a short position, though I'm going to attempt to not be quite so stupid this time, the first sign of breakout and I'm (planning to be) outta there.
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