Re: Trade 2 Results
LOL man nothing is embarassing we are all here to learn and be more successful In the trading and investment field. I have been trading since December 2010(F.A) but still today I feel like My knowledge is just at the tip of the iceberg I read it on the internet and added it to my knowledge that a high is only a high until replaced with a new higher high. A high becomes a top after it peaks and turns down. A top is the absence of buyers. No one to pay more. Without buyers, sellers can not trade.Predicting tops and bottom is like catching a falling knife .what I have learnt is to NEVER attempt to pick "tops" and "bottoms" of price action including my analysis .You may trade at the ultimate extremes in price(trading against the trend),with the knowledge and technical analysis. butto add extra pips in the bag .but how do you predict and trade at the tops or bottoms?. Similarly I have sold the gbp/jpy at 125.99 not because I Look at it as a top but because it is at an extreme/resistance combo area .I believe At a resistance area sellers (typical smart players) take control of prices and prevent them from rising higher.also the price has shifted far away from the equilibrium with the momentum being highly overbought . It is trending and its going north but it does not boost like a rocket while trending. It needs to rest return to its normal condition and then resume the trend . to add to it with the spikes on the daily it adds more confirmation about returning to the normal market cycle/equilibrium and then going its way ! Its just How markets works personally for me . Guys if you have some disagreements don't be to harsh on me you guys now m just a small kid LOL
I should admit, Trade 2 was a fiasco, I ended up adding a stop loss without a take profit level which resulted in super awesome failure (i'm down by $302 in my account 
). it's embarrassing to admit, but a lesson learnt.
). it's embarrassing to admit, but a lesson learnt.
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