Did I do something wrong with my trade on the GBPAUD?
Yesterday I decided to move my stop loss from 1.5297 to 1.5177 (to lock in +390 pips).
Here is the chart:
And as you can see on the chart, I got stopped out earlier today.
It wasn’t a pleasant experience earlier today, when I saw the market hit my SL and then reverse back in the intended direction.
It would be at +540 right now…
Here is my conclusion:
I don’t think I did something wrong. I’ve always said that the outcome of a trade has nothing to do with doing things right or wrong.
You always do the right thing when you follow the system, and always do wrong when you don’t follow the system, regardless of how many pips you made or lost.
In fact, the worst scenario is when you don’t follow the system and you make some pips… Want to know why? Read this article.
What do you think?
I’ll appreciate your input…