Analysing A Recent Trade I Took.

[moonchild]

Yesterday I took a trade that I think you and I can learn from.

Before we get into it, a background about me is, I used to suck in trading, I didn't know anything but my overconfidemce always have the best side of me, I thought I know it all, I was just blowing accounts, I don't have risk management, bro, in short I was the definition of a bad trader, until I blew a huge sum and decide to go back to the drawing board and start all over.

If you look at the second entry, you'll find out that price went up and touched my resistance zone, I supposed to get in there but I wasn't around, I waited for the next move and this huge retracement happened and I got in at the peak of it riding to the next support.

But as you can see it has broken the support and it's aiming for the next support, just profits on profits.

This is to buttress the point about my last thread on support and resistance, this thing really works if you calm down and learn it, as trader right now, I don't use any technical indicator for anything just naked chart and objects.

I've been selling this instrument for the past 22 hours and it's still not done.

 

[btaliat]

I won't really call you a bad trader. Though I don't trade on forex but I can still use the crypto to read your candle pattern. You really projected well from the first graph. You would have even made a profit assuming you were there to stop your position. Definitely, time is another factor that can make a trader to forfeit money in forex.