I had a mid-term plan since last week to long EU around 1.3240 and s/l at 1.3140 and t/p 300+. My buy limit was not triggered last week but it was triggered yesterday. I had a floating 50+ pips loss which was more than half way down to my s/l and more importantly, it broken the support at 1.321X and 1.318X was also almost be broken..
I looked daily, 4H, 1H and 15 mins chart and i just recognized this long enter wasnt a good idea as all of them were in the downward trend. I repeated this mistake almost every week and the only improvement i made since i trade forex was i can control a safe money management.. I am thinking to hold my long until got s/l, but i am not sure if i decide to hold this long is because of i have determination to follow my intial plan or if it is because of i am afraid of cut my loss... It seems more likely the latter.
I looked daily, 4H, 1H and 15 mins chart and i just recognized this long enter wasnt a good idea as all of them were in the downward trend. I repeated this mistake almost every week and the only improvement i made since i trade forex was i can control a safe money management.. I am thinking to hold my long until got s/l, but i am not sure if i decide to hold this long is because of i have determination to follow my intial plan or if it is because of i am afraid of cut my loss... It seems more likely the latter.