ticket no.: 825151312
EUR/JPY buy 250.00 lot
entry @ 141.87
Reason for entry:
Price after turning away from my first buy order in Eur/Jpy finally seemed to be coming back. I entered this trade to add position for more profits, but this was a great mistake and it messed up everything.
My two buy orders seemed to be hitting the pits and after some hours, when my trades were incurring significant losses, I decided to enter another trade but in opposite direction, this way I thought I could take profits both way.
ticket no.: 825183197
EUR/JPY sell 1k lot
entry @ 141.57
Reasons for entry:
Price seemed to be heading down, opposite to my analysis.
This trade was entered only after price broke 141.63 area of support. I knew I was selling right into another area of support @141.50 psych level but it didn't feel as strong as 141.63 area.
This trade did go down and gained me good profits, but unfortunately I was away at that time.
Now, reasons for closing:
Altogether 3 trades were running, 1st two were buy orders of altogether 500 lots and the next was sell order of 1k lot.
Now, when I entered the sell order, I expected the price to move down for a long time. And so, I had to figure out some ways to close out my buy trades at least one of them, so that I could gain some profits if the sell order goes as planned.
The opportunity to close out my buy order arrived fast. Right after I entered the sell order, price moved up for some time, after it reached around 141.75 area I closed out my first buy order i.e ticket no: 825100614 with -9 471.54 loss .
Now, Price moved in the direction of my sell order for around 50 pips or so, then it started going bullish. I believed this move to only be retracement and so I looked to close my other buy order. 141.63- 141.75 area gave me that opportunity. Price hit the area and then the inverted hammer seemed to suggest that sell orders were more likely to prevail, I closed out my other or last buy order i.e ticket no. : 825151312 with -6 076.81 loss.
But as it happens, market never had any intention to go down, at least for now, after closing out both my buy orders, I thought there would be more selling, but market started going up and up. Since this is 1k lot we are talking about, it easily could destroy my current equity. I waited for the market to come down but once again, I couldn't be there when it was able to go to breakeven and make my equity back to what it was before.
Anyway, when I was able to check my charts, I saw that market had again resumed uptrend, I still waited for it to go down but it didn't do so and I believed that it could destroy my account if I waited for it to go down, so I closed the sell order i.e ticket no. : 825183197 with -14 554.63 loss.
Finally got the margin call. Here are the final 3 trades:
ticket no.: 825282188
GOLD buy 1.00 lot
entry @ 1232.26
ticket no.: 825282345
GOLD buy 3.00 lot
entry @ 1232.11
ticket no.: 825282483
GOLD buy 15.00 lot
entry @ 1232.00
This might seem like emotional trades due to the previous losses, it might be right to some extent but the chart was properly analyzed before the trades were entered and the analysis proved to be correct though when the trades were in profit, I was fast asleep
Reasons for entry.
There was a good up trendline and price was roaming around that area.
The up trendline also confluenced with a support area which was an instant trade entry area for me so I entered the trades.