Tuesday, November 2, 2010

+ 21 pips

I had short in gbp/usd which run three times in support and didn't broke it. On fourth time I went long and it put me deep into loss. I managed to scalp back that loss in next two gbp/usd trades.
In eur/usd I was right about when to take trades and direction but I cut them short. At least at the last one I've done a good job. On that one I made an exercise in hoping for my profit to go up. I was saying: "Can you go to 65? Can you go to 70? Can you go to 80?" In that way I moved my attention from how much open profit I have and can I lose it. It's just a little difference but important one, and I want to practice it.


Anonymous said...

You may do better knowing what the nearby support and resistance levels are, or recent highs and lows, and figuring out if price has the momentum to reach those levels.

FX said...

I basically know them but don't have any idea can price reach it and don't trust in my idea if I have it.