Archive for the Trading Category
I've had an awful couple of days with trading as you know but that's the nature of trading.. I'm happy to say that I've covered those losses already and back on the positive path... :)
First trade was taken last night, this was a buy on silver.. I saw that the price action had bounced nicely off a support line and just went long. I had a target of 29.73 which was hit the following morning for 34 pips. People think that trading should be complex but it doesn't have to be.. just look for patt
December 21, 2011
2 Comments Full Story
When you suffer a loss trading, your confidence takes a beating and this can cause you to make a mistake and lose. However, in hindsight, the below trade I placed on the DOW was a great entry but my stop was way too tight and I felt that this was probably because of the previous loss on USDCAD which made me more nervous than usual and I put the stop way too close to the previous resistance level at 10915. My stop was at 10920 and ideally at least should be at least 20 points away from the previo
December 19, 2011
4 Comments Full Story
Today was another one of those days where the market didn't want to play. As a frequent visitor to the markets, this kind of thing happens all the time.. there is no such thing as a sure trade as the markets can do absolutely anything.
Anyway, here was my trade today, I took the long trade as the price of USDCAD bounced off the moving average. Price action looked strong and I was looking to take this up to 10400 and a relatively tight stop. Looked like a great trade...
Unfortunately, t
December 19, 2011
2 Comments Full Story
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