Posts Tagged trading plan
I had spotted that the Dow Jones had made a double top and I shorted it as it retraced and headed downwards at 12720. At this time I was thinking that this could be a nice longer term trade as I anticipated seeing the Dow decline over the coming weeks and possibly months.
I knew that there was support at the 12650 level and if it were a daytrade, this would have been a good place to take profits and take 70 points.. not a bad days work. However, when it bounced, and started to eat into my pro
July 22, 2011
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![10 Trading Rules I picked up from Nick McDonald]()
A few years back, I went to the Trading Symposium where Nick McDonald was given a presentation. Nick has been featured in many trading journals and founded Trading with Precision. Nick's a self made trader and as he was given his presentation, I was busy scribbling down notes.
Well, I've found those notes again, they are starting to look a bit tatty so I thought it's best to put them up somewhere and there's no other place better than the blog here, so here they are:
Ok, so here are 10 r
February 12, 2011
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First day back after the Bank Holiday and back to trading the system. There was a largish 50 pip channel which always makes me feel a little uncomfortable placing the orders. The market also moved quite a bit just before 7am reaching which also makes me feel a little uncomfortable. However, trading a system means that I need to remain disciplined to pull the trigger.. even if I feel uncomfortable, this is the system.. I need to follow it to stand a chance of becoming successful.
So the orders
May 4, 2010
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