Today was a very interesting day in terms of my trading psychology. I was able to see where I went wrong and also analyse my trading psychology and where I went wrong.
I mentioned in a previous article about the importance of where to put my stop and one thing that I did well today was that. My stop was below the previous low and therefore support at 8847 (which is a little bit below the actual support at 8860 to take into account the stop hunters and spreads).
The trade didn't really get
September 8, 2011
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When I trade, I always ensure that I put a stop in for every order.. this is usually 50 pips or points and acts as an emergency stop should anything drastic happen with the markets or if my internet connection dies.. I know my maximum possible loss.
However, it is important to ensure that a stop is place in the right place otherwise you'll be hammered by the stop hunters as they seek to take you out.
My trade today on the GBPUSD was as below.. I saw a triple stop in the 15minute timeframe
September 7, 2011
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