EUR.CAD Post Mortem Analysis

Although accepting losses is part of the trading game, it does not mean that I like to lose. Especially when I lose on trades where I initially hesitated to take, simply because they "don't look right."

This was the case on the EUR.CAD pair where I cut my loss, simply because I did not like the way the pair was behaving at that time. Yes, I know that it would have been a profitable trade had I hung on, but this wasn't my point (remember, hindsight is always 20/20).

At the time when the entry was initiated, the pair was pretty much in a sideway pattern. The pin bar body was right smack in the middle of the consolidation "box", making this trade somewhat 50-50 (could have gone in EITHER direction).

So the key point here is not whether or not I could have managed the trade differently. Instead, the question should be why did I take this somewhat "iffy" or "C grade" trade in the first place.....I should have just passed it on!

Perhaps I was getting a bit light-headed (read: greedy) due to my other trades going nicely in my favor. It's all psychological - limiting the impact of emotions from interfering with your own trading decisions.

I need to further sharpen my sniper skills!