Posts Tagged trading mistakes
Following on from the previous post, there was a breakdown of the downward pattern and I went long at 1357. The stochastics were looking good in both the 1 and 5 mins so I went for it.
However, I took profit at 1359 as the stochastics were looking to cross as you can see in the chart.. the market may well go higher as the stochastics have more to go in the 5 mins but I don't want to risk it!
I got +2 points which isn't a bad result!
June 10, 2008
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A few days later after my long trade with EURCHF which should have yielded a nice 180 pips (of which I took none... see previous post for reasons).. another trigger was initiated but this time on the short side. The stochastics crossed and the trend line indicated short. I went short at 1.6275 with a 50 point stop and a 50 point target.
The market fell sharply and I took my profit at 1.6235 for 40 points! I am still unable to ride the trends.. I was thinking it being Friday and the market b
May 30, 2008
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I have been busy today and posted quite a few times in a short space of time!
Anyway, I entered another trade after the previous and make all the losses back to close at 0.3 points in profit! Hoorah, at least it wasn't a loss!
As I mentioned earlier, I was talking about the head and shoulders pattern. It wasn't a perfect pattern but as I write, the market has indeed reversed and hit my targetted endpoint at 1388 and indeed has gone beyond this!
In addition, I didn't mention my Fibonacci
May 28, 2008
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