Day 499: Unlucky…

Profit: -18.49  Total: $395.11

Overnight I saw the GBP/USD building up for a wedge breakout and had a pending short in place. I made a horrible beginner’s mistake and set the stop loss a bit too tight. I wasn’t even planning on holding a position overnight, but the set up looked too good. Lesson learned here is ,once again, give your stop losses room to breathe.

I had a pending short right below the wedge support, but my SL was taken out right at the circled wick. I guess my inital entry wasn’t the best either, I didn’t take the spread into account and got hit slightly early. After waking up to my loss and opportunity cost of pips, I wasn’t in the proper mindset to trade.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s