I like to share my trading mistake by weekly which cause me making the wrong trade. I found this very helpful to me. Learn from the mistake...
2/3/2013 week Lesson learned:
No more enter the trade without analyze the pair well. No market order.
No more adjust SL manually, stick with 15min chart system for SL.
No more trying to pick bottom trade. Need to see trend reversal
For breakout trade, if the pair is above CLOUD and short term & long term MA congested. I would stick with bias on the LONG side
No London breakout pairs for usdjpy, usdcad, usdchf, audusd and eurgbp 'cause those pairs don't really move on London session breakout. They are slow moving pairs.
2/10/2013 week Lesson learned:
NO trade on Sunday night, go to sleep.
If there is no trade, don't force a trade.
No more than 3 trade on London session breakout. Each trade with 1.5% risk.
If weak setup, use only half size of position.
Don't trade against index!!!
If you are not clear of market, get away from trading for ONE day. Get some rest.
When you are confused, meaning NO TRADING.
If you lose 2 trades in the row, stop trading for 24 hours. Get some rest.
Before enter the trade, must follow ALL the trading RULE. Compare it before you LOSE if you don't follow.
Let's wish the best for the next week.
Below is my this week performance which I learned from last week mistake...Hopefully next week will be better.
Cheers all...