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Already locked gains today

  • Post #1
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  • First Post: Jan 3, 2008 8:39am Jan 3, 2008 8:39am
  •  TIckerShuffl
  • | Joined Nov 2007 | Status: Member | 2,903 Posts
I think it's a good day to stay out of the way.

Can I possibly resist trading? lol
  • Post #2
  • Quote
  • Jan 3, 2008 8:55am Jan 3, 2008 8:55am
  •  ChesterB
  • | Joined May 2007 | Status: Daytrader | 156 Posts
its interesting.... I had a rule per my scalping money management
system to stop for the session after 20 pips but I broke my own rule!
BAD!

+5
+8
+4
+5

up 22 - here's where I should have stopped....

Then, saw a "beautiful" set up, so I took it

+4

Then, I saw another "beautiful" set up,

-7

Here's where I should have listened to myself...

But now I'm at +19 so I have to keep going to get 20 pips,

+6

=+26 total for the morning...

I'd rather have the 22 pips than the 26 and have followed the
rules... Now i have to wait for the next session and I'll
try to make 20 more. It can be really tough to follow your
own rules! But I think this is the way to profits.
 
 
  • Post #3
  • Quote
  • Last Post: Jan 3, 2008 9:11am Jan 3, 2008 9:11am
  •  TIckerShuffl
  • | Joined Nov 2007 | Status: Member | 2,903 Posts
I had a 42 pip day. that AUDUSD looks primed for takeoff...but I will wait.....8760 is still viable downside target. Huge resistance/trend area at current rates, so might grind around here for a while.

Good luck with your trades! Stick to the plan, if you dare
 
 
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