I hope you are well! I know there hasn’t been much blogging lately but things have been very hectic with myself including a lot of travelling so I just simply haven’t traded as much or had the time to blog.
Currently I am in Italy and wanted to share this mornings trade with you. It was the perfect example of how frustrating the market can be at times! I took EUR/NZD short and the set up was technically was perfect. When i reviewed it after i wouldn’t change anything that i did so i am happy with the trade overall but it was just one of those times the market reminds you it isn’t all easy.
So the image above shows the trade I was talking about and you can clearly see where i set my entry, stop-loss and target levels were set. The order triggered in the early hours of the morning but as you can see just didn’t slow down and kept driving higher. It continued to move up until hitting my stop by 1 pip and then diving! Thanks to that 1 pip i lost 1% instead of gaining 2%.
This is not the first time this has happened and I know it will not be the last either. The market has to turn somewhere and sometimes its just your turn for it to turn right in the wrong place.
Now when this happens you will hear people make comments like “its like the market is against me!” but trust me the market doesn’t care about you at all. It doesn’t even know who you are! The FX market has a daily trading volume of $5 trillion so do you think you little trade makes any difference?
With things like this all you can do is laugh and move on to the next trade. Never worry about things that are out of your control and as i say, on review the trade was valid so i wouldn’t change anything that i did. I know that over the long-term i have a winning edge so it’s just all about repeating and accepting things like this when they happen.
