Posts Tagged Trading

Trend Following – GBPJPY – what it cost me!

Trend Following - GBPJPY - what it cost me!

I am currently reading the book Trend Following by Michael Covel which talks about the trend following phenomenon and talks to a variety of traders how how they made it trading. One thing which stuck to mind was the advice which I hear time and time again, cut your losers and ride your winners.  A few paragraphs from the book write "A good example of not letting profits run can be seen in trading strategies that take profits off the table before a trend is over. For example, a broker reveale

November 4, 2008 No Comments Full Story

GBPJPY – there goes my winning streak

GBPJPY - there goes my winning streak

After my profitable AUDCAD trade last night, I entered short the GBPJPY right when it topped and fell. I had a 100 point stop which got hit..  quite annoying but as a trader (or trainee trader in my case) you have to learn that trading is about winning and losing.. you just have to take it on the chin and move on.

November 4, 2008 No Comments Full Story

FTSE100 perfect technical trading

FTSE100 perfect technical trading

I had my day off today so I thought I would look at the charts for some trades early in the day before I went to the new Westfield shopping centre which has opened up in London. The FTSE100 obeyed some nice technical signals I was able to capitalise... not to it's full potential but still, it's nice when you get a perfect technical day. The first thing was the previou low of around 4200 at 8.30am when the market tested the level and bounced to 4240.. it then started to fall and for an inst

October 31, 2008 No Comments Full Story

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