Posts Tagged trading psychology
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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For those who follow the blog, you've noticed that the past few weeks I've not put on too many S&P trades. The reason being is that it is too easy to lose on the S&P (well, that's what I find but that could be because I'm not too hot a trader)... anyway, I have been watching every day as usual but just been really careful and I am trying to only enter if I see an entry based on price action.
In the past, I have been putting on trades when I am anticipating a move as the stochastics
June 9, 2008
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Yesterday I complained about the AUDNZD trade shooting through the roof after I had closed my trade. I said that I would enter new trades with a 50 pip trailing stop loss on my Forex trading.
Well, last night, I found two more potential candidates in the Forex markets... the EUR/CHF and the EUR/JPY. Both charts had the stochastics cross and the change in the trend moving average indicator.
The EURCHF had previously cross the day before and I had traded this signal to find that I had got
June 5, 2008
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