EURUSD Trade on Dec 28, 2015 02:46 from shellsnail: Tradervue User Stock Trades.

What did the market do?

After clearing session VWAP and breaking out of a consolidation zone, price inched higher gradually. At the 1.0976 level it faced some resistance and retraced slightly. At this point the trend turned up on the 15 minute chart.

What did I do?

I got short at the resistance level in the consolidation zone and did not cover my position until my stop-loss was hit. I added a short near the highs as a last ditch which I exited together with my SL. I added another short when price double-topped the clear resistance level.

What was I thinking?

The initial short was playing for a simple trend continuation towards 1.09329. Failure to cover earlier was because I was rather convinced that the bias had switch to short/neutral and did not see the need to cover a tier 1 position so early. Adding a short near the highs for a last ditch was typical and could have reaped huge dividends on some days when trend is indeed down. Adding another short at double top was a scalp to take advantage of the ambiguity of the situation/over-extended up move.

What went best?

Respecting my loss limits and sticking to a tier 1 position sizing for a trade without a strong bias/ D set-up.

What went worst?

Late covering of the short position.

Continue best

Continue being clear which set-ups are high quality A+ and which are D/C set-ups. Risk more for A+ set-ups.

Stop worst

For D set-ups, learn to give more weight to micro movements in price.