Saturday 16 February 2013

14/02/2013 CAD/CHF short (a loss that should have been a win)


This is a trade that I should have won but didn't thanks to an idiotic mistake. Inexcusable. Here's the entry chart (click to enlarge). Risk was 0.5% and the target was 2:1 RR (risk/reward ratio).



And here is the excit chart. Notice that the high of the pinbar was NOT violated. The pin did not fail. Why did I get taken out? Because I didn't take the spread (about 5 pips I think it was) into account when I set my stop loss. Therefore I was stopped out. The trade then went in my direction and I would have made a 2:1 profit had I not been an absolute clown and just had my stop loss a few pips higher by taking the spread into account. 


Amateur mistake.

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