This ended up a losing set of trades overall. 2 out of 3 trades were closed for a profit.
1. I was looking at a 30 minute chart and shorted. Price moved higher however I didn’t want to exit and moved my stop up. It kept moving higher and I decided
2. a sell limit might work. The trouble is I took a big stop right before the sell limit level was reached. That wasn’t necessary. As priced moved lower I exited part of the position for a profit.
3. The remaining position was closed for a small profit. This was approaching Fed talk, and the euro was strengthening.
The same evening I had 2 profitable “micro” scalps on NZD/USD.
The big stop destroyed all of that. (4 out of 5 trades were profitable) One reason was hesitation in simply getting out quick and re-assessing! The longer term view had me wanting to give it more room.
Who has been there? I’m there sometimes and journaling it 🙂