I put on a trade today, the USDCHF short. I have a trading channel as drawn and then I went out with my stop in place. I expected the market to fall and it did fall sharply at one point. If I were around I would have probably closed the position early after it bounced off the bottom of the trading channel. It rose from this and broke above the high of the channel triggering my stop for -50.

It is extremely annoying when this happens as at one stage, this trade was +50 up when it reached the bottom of the channel.

The obvious thing here is to think that perhaps I should always watch what the market is doing.. however, I want to be able to trade by setting the stops and limits, I dont want to become the type of trader that has to watch the screen 24/7…

In the past I have set up ‘fire and forget’ trades with a definative stop and limit. I had my stop in place but not a limit.. I didn’t even have a trailing stop to lock in profits. I thought that the market would actually fall a few hundred points from here which is why I did this…

I keep having to remind myself of the trading adage, ‘trade what you see, not what you think’

Tags: day trade, daytrade, daytrading, foreign exchange, forex, Forex trading, spread bet, Spreadbetting, usdchf

I’ve been quite a few problems with the original template I was using for this blog in particular for those users of Internet Explorer which form the majority of my readership. Users of Firefox (which I am one) have been able to see my page in the format that I have been intending on. Anyway, as it affected my readership quite severely, I have found another template and so far, this one seems to be working fine.

I have created a new logo to go with it all but otherwise, everything is the same as before. I am still getting some formatting issues when the site is viewed with Internet Explorer but users of other browsers shouldn’t have any problems..  I have tested it with Firefox, Safari and even the new Chrome browser from Google.

The readers are what keeps this blog alive so please let me know if you have any problems with the blog and any comments on how to improve etc.

Tags: blog, chrome, firefox, google chrome, make me some money, makemesomemoney, new wordpress template, safari, wordpress, wordpress template