The EURUSD did went bearish after the news. But it didn’t trigger to my 2h supply. Hence I cancelled the order.
Quite a strong move down. I was looking into the longer term chart and found that the demand is way down at 0.9954 ish i think.
Quite far and strong move down. We might have to consider as well in case any corrective move. BUt if the price continues to fall rapidly is because EURO is printing more money supply .
But Before I post my chart. Let me say a few words about inconsistency in trading. From what I learn from my experience, it is actually not the result of the system at fault but in fact human error. It’s how your thought process being manipulating your thoughts on and off before and after trading. I am sure that all of you had heard that 5% of the world would only achieve success in trading. This is so true. Why ? Because they have the discipline and focus strong to compensate what their second opinion and negative thoughts are. Being cold as ice. Being not bothered what is out there saying.
Most people are inconsistent because
1. They keep on changing trading system which gives out inconsistent result because eahc system has its own probability and statistic , hence its going to make a mess in your account statistically and financially.
2. They don’t keep track of what they do, JOURNALs. It is a tool or a means of reflecting of what you did best, why and when. It is also a learning tool from the mistake you made when trading. YOu will notice your change of style and method because you have a different opinion on your original setup. Because you stare at your chart more than 45 minutes!
3. Risk management not consistent because you tend to change size in order to satisfy your needs to recover quick . This is a sign to the path of destruction and to your end career as Trader as well. Because of this , people have a hard time to recover not the money but them self personally, morally and mentality. You just need to learn how to master your self , how to keep your self very calm, very patience and being content or appreciative in nature and thankful on EVERYTHING. Yes EVERYTHING, not just trading. Teach your self positive values and attitude.
4. Winning means nothing if not consistent over the long run! You can say you win a trade if your 1 year track record is consistent, but not a single or 2 or 3 trades that cap large wins or consistent wins! People tend to get Euphoria when winning. The same thing with loss. Once you win thats it. FOrget and MOVE on!!
5. Not understanding a loss. Most people tend to get carried away when having a loss. It triggers emotional anguish, and the appetite to go for something new or big! Loss is a loss thats it, forget and move on. Majority of people keep on thinking of their past, which leads to nothing but down! Move on and be positive. Start something better or think that best to wait and let it come. IN trading there is definitely a loss. It is not a 100% game win. Because you are against a large entity that will definitely destroy you!
6. Believing or confirming news or event you read over the net. That is just another sign of self doubt and a way to destroy your trading consistencies.
and many more probably…Im sure you are one of the above. It’s all HUMAN ERROR. we are human, not a perfect being, it’s how we brought up. It is just up to you to be the one who change your self.
Just a short term friday. I recall there is a greek election on SUnday which could push price up on MOnday open. SO I would probably prepare for any nearest fresh supply. Since this is a short term trade, if it didn’t trigger by the next 2 hour, I will cancel this trade to avoid being taken out after the weekend.
Anyone did manage to get those long candle down from the top ?