I didn’t like that trade. It was too close to a support zone. I felt like price had hit a good supply zone, and it gained some pips. But I got in too late. Price was already outside the supply zone. I really didn’t liked those 4 pin bars one after the other… Made me nervous. Closed half of my trade while I was in profit, and kept the other one running… just in case things would go my way. Still, it didn’t. I was somewhat right. And I can pat myself on the shoulder for this one, as thing are really bullish for now.

I didn’t lose on that second position. I had moved my  stop loss to break even when I closed my first position. Another pat on my shoulder…..

Let’s find another one!

Ok. Here is an example of what NOT to do!! This is really a noob mistake, and the part that hurts a lot, is that I am not that much of a noob…

I really got butt f&%d on this one. An its totally MY fault. What I had figured out to be a very nice demand zone, was actually one. Price got well inside the zone. Price was showing indecision inside the zone. It was a zone also at a low support zone. Everything was in place for a nice reversal. At least, I would be almost sure to get to 1 ATR and move my stop loss to break even.

But here where the ugly comes in…..

I traded this 2 days BEFORE ONE OF THE BIGGEST FED CONFERENCE ANNOUNCEMENT!!!

So what happened….

Here is how the trade was placed:

Long at 1.1157. Stop loss at 1.1080.
Trade got opened. Then things started to go south…. (no pun intended….)
Fed conference.
And after the announcement…. Got a big F.U. candle, and my stop got hit big time.

So that’s that. And I’m seriously pissed… of myself.

Please, kids, don’t do stupid mistakes like this….. PLEASE!!

OK. Let’s go simulate for a while, and look for the next trade.