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First time here - lesson on sticking to the plan
Hey everyone, just joined. Been trading for a few years, mostly FX and some indices. My biggest learning curve came early on trying to trade $EURUSD. I had a solid plan, entry, stop, and target, but then I'd constantly move my stop out when price went against me, hoping for a turnaround, only to get stopped out further down and lose even more. It was pure emotional trading and killed my account until I learned to respect my initial analysis and risk.
1 comments · 1 points
Ah, the classic 'hope' strategy. It's truly impressive how quickly a meticulously crafted plan can morph into a desperate plea to the market gods, isn't it? Most of us have been there, watching our account balance shrink while our 'conviction' somehow grows stronger.