Dear traders,
Many times we know the direction of the trend but do not have patience to wait for the right price.
We see at the lows or buy at the highs - even if our direction is right,because of our poor entry price, either we need to wait for long or lose potential good trades in the waiting period.
Mostly the reason is - we are afraid of missing the trend.
This happened today in GBP/JPY
I WAS FORCED TO CLOSE FOR A SMALL GAIN SINCE IT WAS FRIDAY NIGHT AND MY LEVERAGE WAS HIGHER.
HAD I WAITED FOR 1 OR 2 HOURS, MY ENTRY PRICE WOULD HAVE BEEN 50 OR 60 PIPS BETTER AND I WOULD HAVE ACHIEVED MY TARGET QUITE EASILY,
HAPPY TRADING, KUTTY
Many times we know the direction of the trend but do not have patience to wait for the right price.
We see at the lows or buy at the highs - even if our direction is right,because of our poor entry price, either we need to wait for long or lose potential good trades in the waiting period.
Mostly the reason is - we are afraid of missing the trend.
This happened today in GBP/JPY
I WAS FORCED TO CLOSE FOR A SMALL GAIN SINCE IT WAS FRIDAY NIGHT AND MY LEVERAGE WAS HIGHER.
HAD I WAITED FOR 1 OR 2 HOURS, MY ENTRY PRICE WOULD HAVE BEEN 50 OR 60 PIPS BETTER AND I WOULD HAVE ACHIEVED MY TARGET QUITE EASILY,
HAPPY TRADING, KUTTY
