Monday, October 1, 2012

Missed out on a winner - "Hermes"

I missed an entry on the USDJPY due to a mental miscalculation. The range on the USDJPY was 17 pips on the 27th of September, less than 50% of ATR(14). However, I did a quick mental calculation and thought it was 27 pips and ignored the entry signal.

If I did trade this, the low of the entry signal bar would've broke and trigger a short, resulting in a loss. However, price rebounded and broke the high. A long with a 2-to-1 risk-reward would finish in profit today.
The lesson here? I need to learn how to program indicators in MT4! And to be less careless with my mental arithmetic.

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