Friday, May 8, 2009

EUR CAD- 12:23ET. Slip In Discipline.

Was exhausted by the time I took this 23 tick loss (3 due to slippage). Have to remind myself that having the discipline to stop trading due to tiredness/lack of focus is as important as the discipline needed to follow a strategy without deviation.

First error was placing the stop a little too loose and then not getting out of the position on the first move down into support (shown by the yellow arrow on the 1min chart) after that, I left myself open and was just floating around in the market hoping that the strength of the larger timeframes would save me. Basically fell prey to my main weakness...the same one that I managed to avoid in the First Trade Of The Day

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