Posts Tagged currency trading
Well, this is when you start to doubt your system... I started off trading this morning breakout strategy with some amazing success but this last week... couple with my own stupid mistakes of not following the system have really bashed my confidence in the system that I have been trading these last couple of weeks.
The morning breakout happened to the downside.. a short at 15321, with the usual 30 pip target and SL at the other end of the channel (60 pips in this case).
The short proved to
April 25, 2010
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I followed the rules to a tee today.. however, I'd realised that I am supposed to set the range between the highest and lowest values between 4am and 7am UK time. I'd been waking up at 6.20 am every day and putting the range between 4am and 6.30am. It probably doesn't make much different unless the market moves significantly..
The markets broke above my level.. however they plummetted and took me out for almost a 50 pip loss... not a good trading day (despite following the rules today).. oh w
April 22, 2010
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I was a bit unsure as to what the markets were doing today looking at the moving average which was pretty flat. However, our trade doesn't really matter... I am just trading the breakout past 7am.
So, todays orders were placed at 1.5392 for a long and a short at 1.5331.. if either hit, a target of 30 pips and a stop at the end the other channel which was a 60 pip stop loss. I have gone back to trading just one lot now since I was using another broker for the 60 pip trailing stop which has cau
April 21, 2010
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