Posts Tagged spreadbet
I've heard that you don't do yourself any favours if you think too much about a position when trading. In fact, there was something that the more academic a person is, the more they have to justify their decision before making the trade.. in the fast move world of trading, by the time your neurons have worked out what to do, the market has already moved and along that, the opportunity.
My trade set up today was a long if the GBPUSD went above 15287. The usual limit with this breakout trade is
April 9, 2010
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I put on the same trade this morning, shorted the breakout which was the same trade that I'd put on the last two days. The last two days I had got stopped out on both occasions only to find that the trades would have been successful.
Anyway, today, it went right... I had targetted 60 pips but when the market bounced around this level (and didn't hit my limit price).. I got a little edgy and took the price on the bounc at 15165 for 45 pips. However, just a few minutes later, the market breache
April 8, 2010
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Hmm, same thing happened to me today. I had a sell at 15233 with a 40 pip stop and a 60 pip target... the market knew where my stop was and hit it... then promptly fell and hit what would have been my target of 60 pips.. well what can I do? Annoying that it is, that's what happen.. hopefully it won't happen tomorrow!
April 7, 2010
Comments Off on Caught out again – GBPUSD short Full Story
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