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May 12, 2010 GBPCHF Accelerator Trade Pt. 2

Written by Hugh, on May 12th, 2010

I closed out the last trade at a loss because I was afraid that the trade will go sharply against me.  Well, guess what?  Price dropped back down, so I decided to put the trade on again.

Here is the 5 minute chart:

GBPCHF forex trade

Click above to enlarge

What happened?  I got nervous again and closed out the trade.  This time here were 4 trades on the line.

I ended up with a -17.3% loss on this trade.

OK, this is just unacceptable.  My P/L swings are too high and I am under too much stress during the trade.  That has been leading to poor decisions and not being able to stay in the trade.

From here on out, I will be taking much smaller positions and not risking so much on these stacked trades!!




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Category: My Trading   Tags: ,

This post was written by . His goal is to become a professional trader.
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