Here's an example of a trade I missed out on
It's one thing picking a level to trade but it's another getting in at the right price
I had my eye on the 123.75/80 level and I stuck in a buy order at 123.85. 123.75 is the proper line in the sand but we usually see traders coming in a few pips ahead of a level, which is why I called it at 123.75/80. I thought I'd give myself some extra wiggle room with another 5 pips on top of that.
GBPUSDH1 chart
The low was 123.86 so I missed by a couple of pips. Had I not been doing other things I might have gone to market on my order, but hey, that's life.
Ultimately, even when you get it right you can miss out on making decent pips. I'm probably still a bit annoyed about missing the second cable fill down at 1.5170/80 last week too
When you do miss, and it turns out to be good trade, don't get too despondent. It's better to get it right and make nothing than get it wrong and lose money. There's always another trade just around the corner
