Ep 166 Trade autopsies

A part of Learn to Read FX Charts, I’m trying to give you the understanding of the reality of chart movements. With the application of your strategy this will influence when you trade. The result will be winners and learners not losers.
We all know that feeling of a trade going against you, well since you paid for the lesson why not learn from it.
It’s no use posting a photo on social media asking “what did I do wrong” you will get many and varied answers leaving you still confused. You need to be able to answer that question for yourself, because at the end of the day nobody else cares.
Firstly, you need to understand your strategies strengths and weakness when to use it and when to stay out of the markets. That’s on you.
Next doing the autopsy it breaks down into two parts Fundamental and Technical.
Fundamental is easy was there a red or grey flag on Forex Factory on the day of your trade. If yes that is the probable cause. Learn the lesson.
Technical for this you will need to remove the indicators so you can see a naked chart. So, from your trade timeframe can you see market cyclicity? If no go up one timeframe, can you see cyclicity here? Lastly go up two timeframes from your trade timeframe can you see the underlying direction of the market? Or was the market sideways? So, what was your entry signal correct or almost correct? Was your stop to close to your entry point? These are questions you need to be honest with yourself about remember its just you and your conscious.
When you trade with a live account you will learn a lot faster. Remember to journal with photos every trade you take so you can look back and learn, remind yourself of why certain trades went against you. Photo of your entry setup and two timeframes higher.
So, one last piece of information before you place your next trade do two pretend autopsies on the trade one is why did the trade work, second why didn’t the trade work.