Here’s an update of our profitable trade today on GbpUsd. We saw a potential opportunity on this pair as it was trading closely on the 30 mins resistance. We are not only posting to show our profits but to remind all traders that trading needs discipline and only with proper trading plan will you be able to grow the account consistently.
Below is an example of our trading plan before entering a trade. The snapshot below is what we shared with our followers in our Free FaceBook close group https://www.facebook.com/groups/tradesandprofits/.
We know that SL(Stop Loss) and TP (Take Profit) is there to help us in our discipline but one thing many traders miss out is Max Entry. Max Entry is crucial so that traders do not enter into a trade blindly chasing the running trade. This also helps to ensure that your trades reward is worth the risk.
In this group, we will be answering questions, doubts and also strategies that losing traders have been wondering. We share our views, trade ideas (with specific entry, SL, and targets) and thoughts and hope to make everyone as profitable as us. Remember trading is a journey not a get rich quick scheme. Join us here https://www.facebook.com/groups/tradesandprofits/ to see what you are missing out there.
We ain’t perfect. See how we take so many losses yet profitable for the month. If you also notice we have a handful of trades. Why? Because we want to be profitable not because we want to enter many trades to satisfy our urge.
Reference to related profitable post on ChfJpy and Bitcoin