Posts Tagged trading psychology

90 pips on the EURUSD trade from last night

90 pips on the EURUSD trade from last night

I got my 90 pips from the trade last night. As you know from my previous post, I had entered the market at 1.2370 with a stop at 1.2460 and looking at a 1:1 risk to reward trade which meant a limit order at 1.2280.. ie a 90 pip stop with a 90 pip target. The two spinning tops were the key here showing that there was selling at the levels, that coupled with the downtrend movement made me feel it was a good short play and I got rewarded. So, a decent start to my trading again after all t

August 9, 2012 No Comments Full Story

They Psychology of a Failed Break Pattern – Real life example on the GBPUSD

They Psychology of a Failed Break Pattern - Real life example on the GBPUSD

This was something which I saw yesterday but I didn't have the confidence to trade it and didn't. I had emailed this to a few of my trading friends to get their view but they weren't sure either. Anyway, imagine the chart below but without todays up bar. The way I saw it was this, there was an obvious support as draw below at approximately the 15650 level which can be seen very clearly in the daily charts. The market had bounced off this a few times already as you can see. With the latest pri

March 13, 2012 No Comments Full Story

The Stresses of Trading Crude Oil

The Stresses of Trading Crude Oil

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 No Comments Full Story

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