$100k Challenge - AUDCAD Long - E10 T1 - Trade Review
Hey everyone!
Not the best news for the challenge series, I got the second casualty of falling into FOMO, I recognized this trade as a not-so-good setup after taking it. Since I decided to stick to my plan once a trade has been placed, I let it play out, to a not-so-good ending.
Still, even though this is the second trade which I'd label as a trading plan breach mistake, the account is still alive and the challenge keeps going :). And in case I fail the first attempt, I'm prepared to retake it with the lessons I've learned, so the ideas will still be there haha.
Here are my notes from my journal:
The trade reached stop loss. I completely assume my responsibility for taking the trade without evaluating in deep detail the opportunity. I will modify my trading plan to include a rule of closing a position immediately as soon as a breach of the trading plan has been detected.
Not the best news for the challenge series, I got the second casualty of falling into FOMO, I recognized this trade as a not-so-good setup after taking it. Since I decided to stick to my plan once a trade has been placed, I let it play out, to a not-so-good ending.
Still, even though this is the second trade which I'd label as a trading plan breach mistake, the account is still alive and the challenge keeps going :). And in case I fail the first attempt, I'm prepared to retake it with the lessons I've learned, so the ideas will still be there haha.
Here are my notes from my journal:
The trade reached stop loss. I completely assume my responsibility for taking the trade without evaluating in deep detail the opportunity. I will modify my trading plan to include a rule of closing a position immediately as soon as a breach of the trading plan has been detected.
