(-75) larger pos AUDJPY D1 trapped traders signal not a winner

A trade gone wrong

The trapped traders signal which had been developed recently does not always guarantee immediate momvement after previous day close.
This trade was a poor combination of “all-in” & greed which resulted from a decent win to a huge loss, that marred the performance for week29.

I had staked in a large position, after seeing some strong signals appearing at the close of wednesday.

D1

Shorted immediately after trapped traders signal shown. Larger position cussed more anxiety.

week29 AUDJPY D1 trapped traders bearish engulfing 160715

h1 trade outcome

Emotions became involved in the trade when large postions was involved. I actually had the chance to book profits but I did not. When it became break even I was unwilling to exit, because in my mind i was not willing to give up the paper gains that i made. So price started moving against my direction. I made a manual cut just right at the top, only for the next day to turn back to its original price.

week29 AUDJPY h1 why i did not exit 1 lot 180715

My take away for this trade would be
1) manage pos size. Sometimes desperation drives pple to do silly things
2)If it is big size trades, be nimble and be willing to exit on slightest of change in the market.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s