NZDUSD H1 - I was fool moving stop loss to breakeven (diary)
NZDUSD is nice pair - a lot of harmonic advanced patterns. There was recently Butterfly, Gartley and now Cypher. All complete successfully so I thought why not.
But this pair loves making me fool. When I traded Butterlfy - there was very fast spike down, so I escaped with some profit thinking Butterfly won't work this time. It was lessson for me and with Cypher when there was pullback - I did not escape, just moved my stop loss to breakeven. And again - moving stop loss to breakeven wasn't good idea - because priced did return, kissed my BE a did what was expected....
Looks like I will be learning forex all my life :)
And by the way - now - as price reacted for 50% - maybe another pattern, bat?
What can I say - I just could repeat Akil Stokes sentence - Plan your trade -- trade your plan.
Happy trading, Traders!
Leszek
Just flies in my mind - maybe someones is trading
NZDUSD
as its main (or major) trading pair and could share with observations/conclusions? I will be doing some more backtesting with ForexTester2 but .... why discover America whilst we could share?
But this pair loves making me fool. When I traded Butterlfy - there was very fast spike down, so I escaped with some profit thinking Butterfly won't work this time. It was lessson for me and with Cypher when there was pullback - I did not escape, just moved my stop loss to breakeven. And again - moving stop loss to breakeven wasn't good idea - because priced did return, kissed my BE a did what was expected....
Looks like I will be learning forex all my life :)
And by the way - now - as price reacted for 50% - maybe another pattern, bat?
What can I say - I just could repeat Akil Stokes sentence - Plan your trade -- trade your plan.
Happy trading, Traders!
Leszek
Just flies in my mind - maybe someones is trading
NZDUSD
as its main (or major) trading pair and could share with observations/conclusions? I will be doing some more backtesting with ForexTester2 but .... why discover America whilst we could share?