First Time Cancelling a Forex Trade Early – Regretting It

i never cancel out of a trade early but this time it seems to have backfired.

Don’t be broken hearted just learn to place tp correctly next time. Keep up the good work friend, you can make it.

Noor said:
Don’t be broken hearted just learn to place tp correctly next time. Keep up the good work friend, you can make it.

Late entry.

Collect your data. If you have a decently good winrate coupled with a 1:2+ RR, then stick to the plan.

If you don’t, consider taking partials.

Either way, you’ll only conquer your mind if you have some concrete data on paper that you can stare at to make sense of it all.

Otherwise, you will always be stuck battling your emotions regardless of the market conditions.

These are painful, but look at it as another data point - once you have enough make a conclusion on the SL placement. You’ll do better in the future.

Spread works both ways AND you have to account for your broker!
You can’t (always) go too precise with your Entry, SL and TP because exactly those things will happen every once in a while.

That is painful :cry:.

Why anyone??

That’s some real pain.

Cause BABY hedge funds are looking for your $50 stop loss​:face_with_hand_over_mouth::face_with_hand_over_mouth:.

Ben said:
Cause BABY hedge funds are looking for your $50 stop loss​:face_with_hand_over_mouth::face_with_hand_over_mouth:.

u mean £300.

Lake said:

Ben said:
Cause BABY hedge funds are looking for your $50 stop loss​:face_with_hand_over_mouth::face_with_hand_over_mouth:.

u mean £300.

Yeah darling.

It’s not only you, it happens. I was 1 pip away from my TP today, unfortunately didn’t catch the trade, but I moved SL in profit. If you scalp, better catch them.

I am sorry to tell you but you got liquidated.

Noor said:
USD JPY.

nah XAUUSD.

The second time it came to one point from filling TP you should’ve given trailer or moved SL to breakeven. This should’ve also been done the first time. And now looks like you should be out of it or at least put the SL right above the last bull candle.

Why not you? Better you than me :joy:.

Was that usdjpy?

Nehemiah said:
Was that usdjpy?

xauusd.

Lake said:

Nehemiah said:
Was that usdjpy?

xauusd.

Damn, gold moves so weird man it pissed me off.