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Trade #1 Pair: USDCAD Reason for trade: I was looking at the market open to see if anything was forming and saw the double forming. No other confirmation was used. Win or lose: I won this trade at about 2.5:1 once I saw it reaching its first high and exited the trade. What I could have done better: β’ I entered the trade too early β’ I could have had a better stop loss and made my ratio 1:3 or 1:4 β’ More confirmation?
Trade #2 Pair: USDCAD Reason for trade: after exiting the first trade I saw that it was still moving upward and broke through resistance. I entered another buy. Win or lose. I lost this trade at 1:1 What I could have done better: β’ at one point I was 1.5% and I should have moved my stop loss into take profit or at the very least 1:1 to secure the 1:1 win. I did not use my mt4 trading assistant for these trades which calculate stop loss and automatically move to break even and 1:1 If I would have used the mt4 assistant I would have taken some work out of trading and I should aim to do the least amount of work as possible and set up my parameters as follows -1:1 risk -once in profit move stop loss to break even -once 1:1 is gained move stop loss to take profit.
I want to start posting my trades daily so people can criticize me and take the good things and roll with it and learn from my mistakes. Thank you guys for your continued support and I hope that you guys donβt kill me in the comments
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- 11 months ago
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