I got home today rather late. I met up with a friend after work and we had a couple of drinks. By the time I got home, there was only an hour left of trading and I didn't see any entries. The stochastics in the 5 mins were turning up so long trades only but there wasn't anything clean. So, no profits today, and no losses.... I live to fight another day!
I've mentioned previously about holding onto winning trades and cutting your losers. I am great at cutting out my losing trades early but holding onto winners? The urge to take profit early I think is my current weakness. The sight of profit gets me salivating! Anyway, my first trade was a short at 136125.. the market had failed to get above a previous high of 136150 on the 24th March and the stochastics in the 5 mins had topped. I took profit early at 136025 for 4 prices to find that the mar
I had a lot of 'rules' in my head today regarding my trading which I wanted to adhere to. They were: Only trade when there is a signal, wait for confirmation before entry Try and hold out for greater profits, move stop loss to next level each time the market moved my direction Try and be objective, resist the urge to take small profit if the market is still behaving or going my way Watch for the longer term trends to gauge the directional trade bias and use the shorter timeframes to
