Looks like the wave completed and we hit our target. The trailing stop took us only a few more pips, but hey, pips are pips.
Okay serious..which Broker... 31 replies
okay my first trading journal. 9 replies
Is it okay to have a one pair system? 9 replies
Okay, did a another insurance company buy another couple hundred million EUR?? 23 replies
Here is a free Calculator...I don't know if its been posted here before 3 replies
Quoting diallistDislikedLOL!!! Your new avatar is hilarious! A perfect picture of how the market treats us....if we let it.
Keep up your great journal and self analysis. I don't see too many traders who have the courage to be this honest with themselves. Hang in there Rincewind and you'll do all right!
DialIgnored
Quoting RincewindDislikedThat first wave was a doozy!!!! It went all the way up to 0.6480. Its retraced by 0.3, so I've gone long with two lots at the moment. I expect it to drop to 0.5 retracement. Given the extent of 1st wave I'm not sure a 0.6 retracement is likely. Target is moved to 0.6500.
Just to be honest...I got burned badly here. Outside of my system I saw at around 0.6450 a dip, and thought "here comes the two down leg...lets play it and make a little more money." So I went short, pretty heavy and WITHOUT A STOP LOSS, got distracted, came back and whoops....margin call.
Yea....kicking myself there. Broke so many rules
(A) no stop
(B) traded what I believed...not what I saw.
(C) repeat A and B indefinitly.
You know...efex and others have given me great advice....and I've heard them....the problem is that I still haven't matured to the point of implementation yet.Ignored