$100k Challenge - EURGBP Short - T26 T1 - Trade Review
Hey all!
Well, some updates have arrived regarding the challenge, my apologies for the delay about this one. I have mixed feelings about this trade and I do consider there are some great insights to be gathered here, sooo, to the notes from the journal!
This trade ended up stopping out a few days ago. Overall, I think this is a good example of a trade that followed a plan correctly, but the plan could have been better. When executing this position I was aware of it being not-so-good but might be worth the shot, however, in hindsight, the main insight I gained through this SL is that it doesn't matter how big the risk-reward might be, what really matters is the setup quality, I'm trading to take a handful on high-quality positions, not to take many "decent enough" setups that I found a way to "make them worth it", and the main lesson here is that I should keep in mind closely that mindset.
Well, some updates have arrived regarding the challenge, my apologies for the delay about this one. I have mixed feelings about this trade and I do consider there are some great insights to be gathered here, sooo, to the notes from the journal!
This trade ended up stopping out a few days ago. Overall, I think this is a good example of a trade that followed a plan correctly, but the plan could have been better. When executing this position I was aware of it being not-so-good but might be worth the shot, however, in hindsight, the main insight I gained through this SL is that it doesn't matter how big the risk-reward might be, what really matters is the setup quality, I'm trading to take a handful on high-quality positions, not to take many "decent enough" setups that I found a way to "make them worth it", and the main lesson here is that I should keep in mind closely that mindset.
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