Archive for February, 2013
This is what happened from trading crude oil. The trade was opened last week and the blog entry for it is here:
http://www.makemesomemoney.co.uk/days-of-negative-price-action-on-crude-oil/
This is another example of when holding out for larger moves doesn't work out and is therefore making it hard to justify this way of trading. This week, two trades were stopped out and both in loss when if I had followed my previous way of closing out trades I would have been in profit.
The chart is b
February 17, 2013
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Unfortunately, EURUSD broke through the lower bullish trend channel line and our stop was hit.
I've been thinking a lot about holding trades longer as I've known that this is one of my weaknesses in trading and with this trade, I did hold the trade and didn't meddle with it.. however, the price action didn't go where I was hoping it would and the trade ended up in a loss.
It's extremely frustrating when this happens, my old method would have meant that I would have taken profits at 135
February 17, 2013
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So today I've entered long trading the Euro at the bottom of what looks like an ascending channel. Of course, this is my interpretation and the points within the channel never exactly match up but what is clear is that the price action have generally been moving upwards.
Within an uptrend, the optimal point for entering is the higher low as you can put the stop below the low and if you're right, you should benefit from a good risk/reward trade. The exit would either be the top of the chan
February 12, 2013
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