Before we talk about how you hit a stop Let’s talk about a scenario,
You went short on a market and it quickly went in your favor.
You’re feeling good about yourself and start to count the open profits you’ve made.
Then… you noticed the price has stalled and has stopped moving in your favor.
Slowly, it crept higher and higher… and eventually hit your stops.
Now, you’re relieved that you’ve cut your loss.
The next thing you know, the market starts reversing back into your original direction. How would you feel?
Frustrated?
Angry?
Like an idiot?
So, here’s the thing…
If you feel any of the above, then it means you haven’t matured as a trader. These are negative emotions that are harmful to your trading performance.
Go watch this week’s market analysis and find out what you should do instead.
Suddenly Hit a Stop: Has this ever happened to you?
I hope you’ve enjoyed this week’s market analysis.
If you’ve got any questions, don’t hesitate to let me know in the comments section below. Cheers!
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In the Ultimate Guide to Trend Following, I will teach you this powerful trading strategy step by step, along with charts and examples.
You can download it here for FREE.
Thanks for the effort, Rayner.
About the USDJPY, from my point of view, the price didn’t respect the EMA20 enough time and with clearly trend, that you could relay on it.. now, what is done is done, have a good luck in the next one (it’s more important to get enough luck to understand when a trade goes wrong and not to act as blind man’s buff 🙂 )
Shlomi
Hey Shlomi,
Thanks for sharing your thoughts.
Rayner
This is exactly how it goes for me and how I think of myself. 🙁
But getting stronger and wiser (very slowly) by learning and experimenting.
Once again thank you Rayner for this WAKE UP CALL in my words !!!!
Hi Nat,
Great to hear it resonates with you. Cheers!
Rayner
Hi Rayner, new to your vids, thanks for the weekly updates. GBPCAD is showing the same pattern as USDSEK (but opposite direction), might that be a pair you’d be looking to go long?
Hi,
Not looking for longs at the moment as the daily is still in a downtrend.
But if you’re looking at the short time frame, then you could find long opportunities.
Rayner
Yep…. this seems to be the story of my life!! Its almost like the market waits until I enter and then says, “hey, look, Robin entered into a trade, lets change directions!!” It almost makes me want to enter the opposite direction … and yes, I do realize it is because I’m not a mature trader… yet! 🙂 Thanks for this video Rayner – its great that you do these videos at no cost to us!!
Robin
Hello Robin,
You’re welcome.
That pretty much sums up my life in the early days as well.
Don’t hesitate to let me know if there’s anything, I’ll be glad to help.
Rayner
I have hear a lot about trading plan. But don’t know how to make it. Will please share how to make a trading plan
Hi Muhammad,
You can check out this post here.
Rayner