I was holding positions in 3 pairs- EUR/USD, GBP/USD, EUR/JPY.
EUR/JPY pair-- hit stop loss after I moved the S/L to break even (after price moving 200 pips from the entry point). So no gain virtually.
EUR/USD: When price moved 200 pips from the entry point I moved the S/L to the break even point.... price was moving up....At one point, price moved down and touched the 50 EMA....I've entered 2nd position as rules guided with S/L 100 pips and S/L of 1st entry should moved towards S/L of second entry as per rule of this system. I enthusiastically moved my S/L of first entry to the second entry level as price moved further up.... unfortunately S/L of my first entry got hit. Second entry is still in position and has 200 pips. If I would have followed the rules, I would have 200 pips more in position.... See the screenshot-
The green solid line was my S/L of first entry and Pink solid line was my first entry. The other two lines are my present position. If I could follow the rules... I should have almost 420 pips in this pair in one month.
GBP/USD: This pair had a good second entry point yesterday, but I've missed it as I was on duty and I couldn't monitor price action for more that 24 hours at a stretch....
GBP/USD |
This pips count could reach almost 900+ if I could monitor it at least at 4 hours interval...... I think, I should change my strategy for monitoring the price action, otherwise, I'll loose pips on regular basis which is not good for my forex business.
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