Early start. Early finish. Profits taken but a wasted opportunity.

This is a confession.  I cost both the company and myself a lot of money today. Two trades and we should have had close to double profits out them.  Let’s look at where I went wrong, and where EnigmaSignal was (as in 90% of cases) right.  That’s a major lesson for all traders – take responsibility. I just did.  It hurts.  But don’t blame the product.  Blame yourself.

Look at my mistakes this morning.  I was advising Stan on his trades, and I didn’t follow the trading rules myself.  I suppose I made the classic mistake.  I got emotional.  I wanted him to be profitable, and so I snatched at profits.  

Right.  Let’s see how I messed up.  But first off, congrats to Stan who took a nice 32 pips in 30 minutes before finishing early in the day.  Weekly profits in three days trading for him of £275 ($350).  Not bad for 3 days trading and trading at only £3 ($4) per pip.   If only he hadn’t listended to me this morning.  I mirrored for £20 ($26) so no disaster but overall I am disappointed with myself and very pleased with EnigmaSignal.

Started at just before 8am.  Two trades looked to be setting up. First off the GBP/AUD.  A steep rise overnight was followed by a move above the minor cloud (blue circle).  Immediate full position buy as we have both signals at green.  Now here is where I made the error.  With the secondary cloud running flat, I decided to take the profits on a touch of the cloud.

15.8 pips for me at $26 a pip = $400, but had I let it run with a smart stop….. well lets just say its trading 1.7406 right now. That’s 126 pips higher than I dumped out at. Absolutely crazy.  And the daily chart looks even crazier (see below).  This move will have defeated a lot of people. 

The good news?  Even though I failed to maximise profits, it was impossible for us to be short or move short throughout this entire move.  Many did.  Many nurse huge losses.  Me?  I’m just nursing a bruised ego, but happy and content to know another trade is not far away.

The daily chart – 14 days of activity blown apart in a few hours. Heady stuff ….