So last night (29/01/2017at 22:37) I placed a GBP/JPY trade.
Today (30/01/2017 at 20:05) my position closed out on my trade securing a 247.5 pip profit.
I entered the trade based on several criteria:
1-The bullish run was looking to be running out of steam.
2-The daily candle for the 29th has formed a high test suggesting a potential pullback.
3-The overall trend of the pair was indicating a bounce off the phase line at around this area.
I ended up making just over 1% profit from the trade making £69.30(Demo)
One thing that I struggled with, and still sometimes worry about, is am I doing it right? Its so common to compare yourself to other traders, and think 'oh I took that trade different' or 'I didn’t pick up on that trade' or 'I don’t use the indicators they use' etc. etc... But recently I have been working on trying to build confidence in myself and not compare to others. After all, you may use a totally different strategy to the others you compare yourself to, your criteria may not find entries that others have as they are not relevant to your strategy, and not everyone uses the exact same method. Each trader develops their own unique style, you decide what indicators you like, and how you take trades, and what pairs you trade and you may realise you have a strength in a particular area and that is why you do something a particular way or use a specific element more.
I have come to terms with this and understand I need to focus on myself and have confidence in what i'm doing, however I still sometimes worry about all that myself! I second guess myself when posting about a trade I took, and worry that even though I know it was a good trade for me and I made money, I worry that it will incur questions or doubts, that I might not have the full knowledge to answer, as I’m still learning and only demo trading, but slowly and surely I am overcoming this and it is something every new trader will experience and the sooner you stop worrying about what others think the better!
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