The Trade:
- Pair: GBP/USD Short
- Date: April 08 2008, 4:30pm
- Entry: 1.9669
- Lots: 5
- Stop Loss: 1.9769
- Target: 1.9569
- Reason/System: For some reason, I thought i got the signal on the squeeze indicator on daily chart for this pair, and I blindly entered this trade. But in reality as seen from the chart, the squeeze indicator was actually entering a period of squeeze where one is not supposed to trade. This is when we have some consolidation withing the keltner channels, and that's exactly where I bought in. Even worse was the fact that I entered the trade relatively late and bought in at the very lowest point in the day.
Result:
- Date: April 09 2008, 10am
- Total Pips: -500
- Profit/Loss: $500
- Trade executed to plan? No
- Rating: 1
- Outcome: As you would expect, this stupid trade cost me $500. Thats what happens when you don't pay attention to minor details like this. Red dot = DO NOT TRADE. Thankfully I entered the trade with just 5 lots.
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