Posts Tagged daytrader
After missing the ride on the previous EURCHF signals, I thought I would be disciplined and trade the signal properly this time.. not close out early to take a profit or loss but actually ride it all the way.
Ok, I see the blue signal in the moving average trend indicator and also, stochastics cross.. a long entry!!
Hoorah, I get in at 16121 after an initial pullback and wait! Unfortunately, it starts to move down almost immediately and I have my 50 pip stop loss in place. Unfortunately, i
June 4, 2008
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Actually I closed this trade yesterday for a 20 pip loss. As I mentioned, the signal wasn't clean and I was a bit wary of trading it. As I previously mentioned, the stochastics had crossed but it hadn't cross near the top for a short signal but near the 60 level.
My short at 10075 got stopped out at 10095 for a -20 pip loss.
June 4, 2008
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Most traders have a few or just one trading setup which they execute over and over again. A trading setup is when there is a predefined condition on the traded instrument which signifies and entry and exit. The most successful traders are those that know their trading setup has a positive expectation overall and are disciplined enough to run the same trade over and over again when the conditions are right.
I have read a lot of trading books and I think the key to becoming a trader is firstly
May 24, 2008
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