Sharing my last 2 day's experience. And asking for advice.
I want to tell you about the trades I took over the last two days. I have basically become a perfect example of how someone can correctly predict everything and still somehow get stopped out and lose money.
I am going to explain how two trades on two different instruments went wrong even though my overall analysis was correct, and I would like to ask for your advice.
First, let’s start with UKOIL. My first entry, which I marked on the chart I shared, was excellent. I planned it as a swing trade and targeted the lowest POC. I opened a short position on Thursday night from the area shown on the chart.
When I woke up on Friday morning, which is today, the price had reacted from the area I circled in white, and half of my profit was gone. Honestly, I got scared and closed the trade.
After that, I opened another short from the area marked as my second entry. At that point, I fell into the fear of missing out on the move. I risked more than I normally would, and the price reacted from the swing low on the left side of the chart and stopped me out.
My second trade was on XAU. There was a four-hour swing high around the POC area. I patiently watched the market because I expected the price to move short after taking that swing high.
Afterward, the price formed a bearish structure, and I entered a short position. I shared one screenshot showing the overall view and two closer screenshots.
The same thing that happened on UKOIL happened again. When XAU reacted upward, I moved my stop loss to my entry price. Then the price formed another bearish structure, so I opened another short position. This time, I was stopped out and lost money.
After that, the price reacted from a higher area and eventually moved down to the target I had originally expected.
It is very frustrating to predict everything correctly and still lose money. I know I am capable of doing this, and I know that somehow I will succeed.
When the price temporarily moves against my plan, I get scared, even though there is not actually anything to be afraid of. How can I overcome this fear?
After closing a trade because of this fear, I enter the market again because I do not want to miss the move. At that point, I stop thinking logically and abandon my original trading plan.
Could you please help me with this?
Thank you.
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Metin Demirelli
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Sharing my last 2 day's experience. And asking for advice.
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