Archive for March, 2013
A thought came to my mind with regards to the GBPJPY trade as per my previous post. I had entered the trade taking signals off the Daily chart and I had actually got freaked out by the price movements of it in the lower timeframes. In effect, I mixed the timeframes within the opening and closing of the trade. When you’re trading, if you’re taking signals of a particular timeframe, it is important to keep it consistent. Each particular timeframe has it’s own patterns.. in the smaller time
March 21, 2013
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The GBPJPY trade. I went long GBPJPY the other day and initially, we got a great move.. up 50 pips. I expected the movement to go up much more and 50 pips is a relatively small move in the GBPJPY market. In the afternoon, the price action stalled and fell and then bounced. I felt that the price action wasn’t clean and as a result I closed off the trade with an approx 50 pip loss as I anticipated uncertainty.
This morning, there were further falls and I felt great that I had got out of t
March 20, 2013
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Last week we made two trades.
The first one we took 120 points on the Crude Oil long and the second trade Long Silver. Because of the profits from the Crude Oil trade, I felt comfortable giving the silver trade more room for a chance of a greater move. Unfortunately, the trade ended up as a scratch trade (even though it was in profit at one stage). I found that by having a profit already in the bag, it gives you the buffer to be able to give following trades a bit more room. Even a smal
March 20, 2013
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