More Articles

Crude Oil takes out my stop and then Rallies

Crude Oil takes out my stop and then Rallies

I got a good entry into Crude Oil last week. I was long pretty much at the bottom of the green candle after the large move down. I had my stop at below the large red candle at 9230. During the day, the price action rallied and I was 60+ points up and the trade was looking good. However, the following morning the price action  fell and hit my stop and then bounced strongly upwards. This is really unlucky and I think the entry was a good one. However, these things happen when trading an

March 24, 2013 No Comments Full Story

Thoughts on Trading Across Different Timeframes

Thoughts on Trading Across Different Timeframes

A thought came to my mind with regards to the GBPJPY trade as per my previous post. I had entered the trade taking signals off the Daily chart and I had actually got freaked out by the price movements of it in the lower timeframes. In effect, I mixed the timeframes within the opening and closing of the trade. When you’re trading, if you’re taking signals of a particular timeframe, it is important to keep it consistent. Each particular timeframe has it’s own patterns..  in the smaller time

March 21, 2013 No Comments Full Story

Trading GBPJPY – Frustration and Trading Psychology

Trading GBPJPY - Frustration and Trading Psychology

The GBPJPY trade. I went long GBPJPY the other day and initially, we got a great move.. up 50 pips. I expected the movement to go up much more and 50 pips is a relatively small move in the GBPJPY market. In the afternoon, the price action stalled and fell and then bounced. I felt that the price action wasn’t clean and as a result I closed off the trade with an approx 50 pip loss as I anticipated uncertainty. This morning, there were further falls and I felt great that I had got out of t

March 20, 2013 No Comments Full Story

« Older Entries   Newer Entries »