Learning from my mistakes

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Will Duxon
Will Duxon added a new post
2 years ago

I entered a USDJPY long position based on an upward reversal in my short-term violet-colored trend line, stating at the time that the move was aggressive and that it would be wiser to wait for my crimson-colored “swing line” to hook to the north as well. I then abandoned that trade when the piece of self-advice I chose to ignore turned out to be true. I subsequently entered a short position seeking a conservative five pips worth of profit based on my assigning the most significance to the crimson swing line, which was still sloping downward. As it turns out, I could have realized a gain two or three times that size, so I might eventually prohibit myself from seeking anything less than 10 pips per trade, and I will definitely have to give serious consideration to never again trading against my crimson moving average (only hand-drawn approximations appear in the above image).

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