21 apr 2010

I'm setting buy and sell and break of the two trend lines. Buy at 1.5421, sell at 1.5335

20 April 2010

Entered buy at 1.5350, have taken first TP, all stops moved to break even.

Take profit 1 (50 pips) and take profit 2 (80 pips). Price reversed to hit breakeven stops.

16 Apr 2010

Sell stop at 1.5392, at break of trend line.

Start to make a real conscious effort to focus on risk/reward and your trading performance will change dramatically.

Be patient and plan each trade carefully

Be patient and plan each trade carefully. It can be very tempting to jump in and join the action, especially when it seems that others are making good pips but this strategy does not pay off in the long run. If you want to be a long-term player in this business, you need a plan and you need to stick to it.

If you do not know who you are, the market is an expensive place to find out

14 April 2010

Buy stop set at 1.5490, sell stop set at 1.5385

13 april 2010 update

I've moved all my stops to breakeven point. First take profit has already been hit.

13 April 2010

I've entered at 1.5385, 8 micro lots x 5, 5 different take profits, 50 pips stop loss

Update from last week's trade

I've moved my stop loss up to 1.5396 as the price has gone up much higher over the weekend. First 3 take profits have been hit.

9 April 2010

I'm setting up buy stops at 1.5310, 50 pips SL, TP1 50 pips, breakeven at 50 pips.

Update: TP1 hit, at 50 pips. Adjust all stop loss to breakeven point.

You can never go broke by taking a profit -- Meyer Rothschild

Only he who does nothing makes no mistake

Charles Ellis

If you can't control your emotions, being in the market is like walking into a heated area wearing a backpack full of explosives -- Charles Ellis

First 50 pips taken, breakeven all other trades.

Trade update

Came back to hit breakeven, total profit 3 microlots x 50 pips (take profit 1)

8 April 2010

Sell stop entry: 1.5205

Stop loss 50 pips

TP1 50 pips