Example of Emotional Trading

A clear example of emotional trading.

I took this trade based on the US NFP & Canadian Employment reports but it was a bit too late into the move. I always like to wait about 30 minutes after news release, see if there will be substance to the movement, by a pullback and then continuation. But I had no reason to enter this trade and realized it was an emotional trade, which always lead to losses. I promptly closed the trade as it was not worth it.

We all get pressured sometimes when we think we have not taken any trade for the last few days and this is an opportunity. Self discipline is @ the heart of success in any endeavor in life. The market is always there, and there will be another trade. I will wait for proper pullback, and join on an engulfing candle that takes out the last H4 high, otherwise I will sit on my hands.

Shalom,

George


DISCLAIMER
Please read the disclaimer on the home page