Posts Tagged daytrade
I was too tired to update my trade last night but I had shorted the GBPJPY at the red arrow. The Japanese candlestick shooting star was the indication for me that the prices were going lower and I had set a stop at 50 points and actually was looking at 150.90 as an exit which was just above the previous low made a few days ago.
The market moved nicely down and when it moved 50 points, I moved my stop to breakeven and left it. However, it bounced up and hit my stop for zero points which was qu
November 11, 2008
No Comments Full Story
Last night I left you with the result of my trade where the market had moved to about 100 points in my favour but I decided to leave it to run a trend to find that it had got to 20 points from my stop....
Well, last night, I couldn't sleep properly thinking about the trade... my stop never hit but it was so close... soon afterwards, the market dropped (after I woke up to watch it) and I manually closed at 158.29. Perhaps I am never destined to be rich but still, my trade was a good one which
November 5, 2008
No Comments Full Story
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
No Comments Full Story
« Older Entries
Newer Entries »
