Archive for November, 2008
Last night I left you with the result of my trade where the market had moved to about 100 points in my favour but I decided to leave it to run a trend to find that it had got to 20 points from my stop....
Well, last night, I couldn't sleep properly thinking about the trade... my stop never hit but it was so close... soon afterwards, the market dropped (after I woke up to watch it) and I manually closed at 158.29. Perhaps I am never destined to be rich but still, my trade was a good one which
November 5, 2008
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I am currently reading the book Trend Following by Michael Covel which talks about the trend following phenomenon and talks to a variety of traders how how they made it trading. One thing which stuck to mind was the advice which I hear time and time again, cut your losers and ride your winners. A few paragraphs from the book write
"A good example of not letting profits run can be seen in trading strategies that take profits off the table before a trend is over. For example, a broker reveale
November 4, 2008
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After my profitable AUDCAD trade last night, I entered short the GBPJPY right when it topped and fell. I had a 100 point stop which got hit.. quite annoying but as a trader (or trainee trader in my case) you have to learn that trading is about winning and losing.. you just have to take it on the chin and move on.
November 4, 2008
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