Forex Trade Example (2 May 14)

Made 3 good trades and 1 bad trade today. The last trade (the bad one) was due to not noticing slight signals of trend ending. The first 3 trades gave me too much confidence that I didn't notice the details. Still managed to get out at break even and make a decent overall profit today.
Disclaimer:  This is purely for sharing purpose only, not a trading advice or instruction.

Trade 1

Trade: Buy on uptrend pullback, after confirmation of uptrend continuation. Took profit quickly at next bar,  when it almost hit previous high.

Review: Good to wait for a small pullback before taking position to gain maximum profit. Quick and decisive profit taking. Good trade.

Trade 2

Trade: Quick buy at uptrend pullback, at point almost hitting trend line. Quick take profit after 1min after seeing doji, knowing it is not the end of pullback.

Review: A bit too hasty to take a position without confirmation of trend continuation, but quick profit taking minimized the risk.

Trade 1

Trade: 15min charts. Sell after pullback on strong downtrend. Auto take profit at 5.1 pips. Exited trade at the 6^th bar.

Review: Since it’s a strong down trend, there is more reason to take profit at slightly below previous low. Straight forward and good trade.

Trade 2

Trade: Tried to sell on a downtrend after a strong pullback. Price moved against position. Quickly got out at break even point.

Review: Bar bodies did not overshot previous high, but candle wicks did. Signalled the end of downtrend. Should have noticed more carefully. Not a good trade.

Summary

There are bound to be times when you make a mistake or sometimes the market just go against you without you knowing the reason. When that happens, be quick to get out. Set a break even point if the volatility allows a pullback to hit it, if not, set a cut loss where a pullback level will hit, or just cut loss immediately. Re-assess when you are out of the mess. There is always another trading opportunity.