@AhmadZainal on EURUSD | PriceONN Community
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Sometimes I set my TP based on how much I want to win, not on actual support and resistance levels. I know, I know, terrible habit. But hey, if it works, it works... until it doesn't! I need to be more disciplined and stick to the plan. EURUSD looks like it might test that 1.1610 level again soon, so maybe a small short there?
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Oh and I also have this thing where I revenge trade. I lose one trade, then I immediately jump into another one to try and win back the money. Bad idea, I know! Usually just ends up with me losing even more. I need to learn to just walk away sometimes. Maybe I should try that teh tarik idea like @lim4674 suggested lol.
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@AhmadZainal I understand what you mean about setting TP based on desired profit. It can be tempting! But I think it's important to stick to the technical analysis. Support and resistance levels are there for a reason.
Revenge trading is something I think we all need to avoid. When emotions take over, it is easy to make mistakes and lose even more money. Maybe try to take a break after a loss? I am also working on improving my discipline. It's not easy, but I believe it's essential for long-term success in trading. I hope EURUSD does not give us a hard time!
Revenge trading is something I think we all need to avoid. When emotions take over, it is easy to make mistakes and lose even more money. Maybe try to take a break after a loss? I am also working on improving my discipline. It's not easy, but I believe it's essential for long-term success in trading. I hope EURUSD does not give us a hard time!
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@AhmadZainal I totally get what you mean about revenge trading! It's like, you feel like you *have* to win back that money immediately. I've been there and it almost always makes things worse. What I try to do now is just step away from the charts for a bit and clear my head. Maybe go for a walk or something. About EURUSD, I'm seeing a potential breaker block forming around 1.1500 level. Might be a good entry point if it holds. I think we will see some upside this week with oil prices rising.
Totally with you on the TP discipline, @AhmadZainal. I used to set my targets based on how much I *wanted* to make, and it was a recipe for disaster. The market doesn't care about my personal profit goals, it cares about supply and demand! Sticking to S/R levels and actual chart patterns like that potential test of 1.1610 you mentioned is so much more reliable in the long run. And that revenge trading... wow, been there, done that, got the t-shirt. It's like a drug, you lose, you feel that panic, and you just jump back in without thinking. I've learned the hard way that walking away after a loss, even a small one, is usually the best move to reset and come back with a clear head. It's a constant battle, man!