+ 10 full size pips
Thursday, April 9, 2009
Exactly as planned
I caught nice little trade in slow and thin market. Sudden push down of 40 pips in 4 minutes, there was no bounce back up so I figured there may be some more downside. Based on 5min chart if last lows were going to be broken around 80 next support are previous highs at 70. It played exactly like that. Push back after my exit is reason why I like to grab profits when I have them and not use trailing stop or anything. I hope that I would exit this at -10 half size pips stop as I initially planned if that occurred.
+ 10 full size pips
+ 10 full size pips
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7 comments:
It's very nice trade FX, I wish I could execute those high momentum trade. Keep up the good work!
Thanks Fxchartist.
When I read my old notes from few years ago my biggest problem was going with the direction of the trend. I was never able to do so, I was afraid of it and I was always trading against the trend trying to catch top and bottoms. Nothing but reversals was in my trade arsenal. Now I'm glad that I can go in direction of the trend and break out but I have other problems that I need to work on. Discipline with stops, not letting market too much against me. Discipline with the emotions, don't let anger to take me over when I lose on a trade and so on.
Nice, I actually jumped out at the peak of that on a long today lol (about 11:25am on your chart). I'm glad I tightend my stop on that one.
Funny because all three of us were trading around the same time.
lol, it must have been a good time to trade then ;)
Isn't it a nice feeling when things go as planned? Too bad it doesn't happen all the time.
Haha Mike exactly, when it happens you almost feel something is wrong because hiccups are the norm.
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