Archive for the Forex trading Category
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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I got at the right time today.. got back home and saw a short entry staring at me in the face, I entered at 8030 and I had a target of 7970. I was spreadbetting with this and the spreads are quite large with this forex pair so I actually closed it at about 7980... still a 50 pip ride is great!
November 3, 2008
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