I thought I would post where the S&P ended up when I closed my trade early at 1382. I took 2 point when there was 8 for the taking!! Arrgh.. Anyway, it's good to look back on the charts and see where it went wrong. The obvious exit would be when the S&P crossed below the 80 line in the stochastics and the MACD crossed.. this would have been at about 1386 which would have been still, a lot further than where I got out!
I haven't turned on my trading platform for a while but I did so this morning after reading a blog by a 21 year old student (who looks 15 in his picture). He trades the EURCHF and uses a simple stochastics indicator. Have a look here http://forexsmarts.blogspot.com/ Anyway, using his system, there was a long entry at 1.6172 this morning. The market did get to 1.6215 earlier today and then fell back. I am still in the trade with a 50 point stop and a 150 point target price! Let's see what h
I haven't been trading enough this week so I was eager to get stuck in today. My first trade was a short at 12922... the market had already come off a 50% Fib level and I was thinking that it had further to go. I had missed the move as it fell (as I had only got in at 6.30pm GMT).. I quickly opened the short but didn't check to see that the stochastics had almost reached the oversold level. This was frustrating as I sold right at the bottom. The market went up and hit my stop for -18!! A
