Posts Tagged daytrading
Today was one of those days where I had a fabulous trade but didn't stick to the plan. I had looked at the market and had put in an order to sell with a stop and a limit order and then that should have been it, I should have left it.
Here's what happened..
This was the DOW and I saw weakness in the market and had set an order to sell at 12120 which was a break below short term support. I had a target at 11940 which would have been a 180 target. However, I couldn't help myself
October 31, 2011
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Today I entered short on Gold after seeing a breakdown in the price action. My stop was in the correct place but what I hadn't anticipated was how much money I could have lost when I placed the trade.
I only realised what I had done after I had placed the order and it got triggered. I usually can deal with a 100 point (or pip) loss which amounts to around 2% of my capital. However, I had gone in at the same stake size as my normal trades but my stop was also the equivalent of 250 pips away wh
September 16, 2011
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I entered long the GBPAUD currency the other evening. I had placed my order 10 pips from the previous high and was expecting quite a big move towards the upside. When my entry came, it went a few pips up and then went down. I had my stop below the last trend reversal pattern. Over the next couple of days, not much happened.. it remained in the range and I thought that since the price action preceding this was up, there was more chance of it moving north.
When markets are stuck in a range, my vi
September 14, 2011
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