Posts Tagged Forex trading
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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I got caught in a false break to the downside today. You can see where I had two entries lined up.. long at 15343 and short at 15313. The short triggered and fell about 15 points before it reversed and shot up through my upper barrier 15343 and almost 90 pips.
So, how did I lose out I hear you cry.. well, I have what is called a OCO order.. this stands for One Cancels Other which means, which every trade is triggered first triggers the other. So my short trade was trigger first which automa
April 20, 2010
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