Trading Forex and CFDs is risky

GBPAUD did not run out of steam in time

Market Analysis
2016-07-22_12-44-22

GBPAUD, H4            

Our 4h GBPAUD Short trade yesterday was stopped out. Accepting a loss is part of successful trading and probably one of the most difficult psychological factors to overcome. However as with any business it is important to accept your losses, learn from them and move on.  Good Risk and Money Management keep you in the game and allow you to keep trading.  The trade has been logged in our Trading Journal and we wait for the next wave on the trading ocean to arrive.

As I type the pair is back through our entry price (1.7596) and looks like it could hit our 50 pip target, (1.7546) following the very poor UK PMI data. That is how it goes sometimes.

 

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Stuart Cowell

Market Analyst

HotForex

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