NZD/USD D1 Bearish Trade
EUR/USD D1 Bearish Trade
I've not posted much recently been busy with other things and wanted to take some time away from Trading.
I've been reading this Thread http://www.forexfactory.com/showthread.php?t=498942 it's by Fartist who has a very clear Plan of Action when it comes to Trading.
One of the many things I learned from reading the thread was the importance of allowing a Trade to run to it's maximum potential and not cutting a Trade off until it breaks my criteria for entering the Trade in the first place.
I'm going to look at a break and close above the 21 EMA as a possible exit criteria.
Another useful thing I learned was using 2 x 20 Day ATR for my Stop Loss level.
I also need to look at breakouts more as a means to getting me into Trades. Because, quite often, Trades can be missed when looking for PA at a specific level, that never materialises, where by entering after a breakout can lead to successful Trades as long as you are Trading with the Prevailing Longer Term Trend.
EUR/USD D1 Bearish Trade
I've not posted much recently been busy with other things and wanted to take some time away from Trading.
I've been reading this Thread http://www.forexfactory.com/showthread.php?t=498942 it's by Fartist who has a very clear Plan of Action when it comes to Trading.
One of the many things I learned from reading the thread was the importance of allowing a Trade to run to it's maximum potential and not cutting a Trade off until it breaks my criteria for entering the Trade in the first place.
I'm going to look at a break and close above the 21 EMA as a possible exit criteria.
Another useful thing I learned was using 2 x 20 Day ATR for my Stop Loss level.
I also need to look at breakouts more as a means to getting me into Trades. Because, quite often, Trades can be missed when looking for PA at a specific level, that never materialises, where by entering after a breakout can lead to successful Trades as long as you are Trading with the Prevailing Longer Term Trend.