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LWby u/lucia.weber·2dDiscussion

Lesson Learned: Not respecting my own stops on $EURUSD

Hey everyone, just joined up here. Been trading for about two years now, mostly focusing on forex pairs like $EURUSD and sometimes dipping into a few equities. I've made my share of mistakes, but one that really sticks with me, and something I'm actively working to overcome, is not respecting my own stop-loss orders.

It happened a few months back on a $EURUSD long. I had a clear entry and a defined stop based on my analysis of a key support level. The market started to retrace, hitting my mental stop point, but I talked myself out of closing the position. "It's just a pullback," I thought, "it'll bounce back." Of course, it didn't. The move continued further against me, turning what should have been a small, manageable loss into a much larger one that wiped out a good chunk of my week's profits. It's a tough lesson in discipline – trusting your initial plan and having the conviction to stick to it, even when emotions kick in. Still working on that consistency.

1 comments · 5 points

1 Comments

IAu/iahmed·2d

Totally get this. Sometimes the mental battle of sticking to the plan is harder than the analysis itself. What's your strategy for reinforcing that discipline now?

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