I will appreciate comment on the trade I took today.
I entered the trade purely on Daily Chart. GU gave a nice round top and closed with red MACD yesterday. The market open @ 1.9875 today and the high of previous candle was 1.9944. The previous day candle was a doji and found resistance on 55 sma. So I waited patiently again for a move near 55 sma and entered sell position @ 1.9934. According to the rule, if price move above 21, it will come back to it and move to 89. But sometimes, it may not reach there but get to 55 sma.
My stop loss was 1.9954 which is 10 pips above previous day high. (20pips risk).
I decided to close my position if I am not to far from entry point 5 minutes to the NFP news. I also decided to leave the position open if I am atleast 25 pips away in my favour from entry point.
When I saw the drop, I stayed in it and finally closed @ 1.9700.
- Post #11,101
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- Feb 1, 2008 1:40pm Feb 1, 2008 1:40pm
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
- Post #11,102
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- Edited 2:17pm Feb 1, 2008 1:57pm | Edited 2:17pm
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
- Post #11,103
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- Edited 2:11pm Feb 1, 2008 1:59pm | Edited 2:11pm
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
- Post #11,104
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- Feb 1, 2008 2:23pm Feb 1, 2008 2:23pm
- Joined Oct 2007 | Status: Member | 1,295 Posts
- Post #11,105
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- Feb 1, 2008 2:31pm Feb 1, 2008 2:31pm
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
- Post #11,110
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- Feb 2, 2008 10:36am Feb 2, 2008 10:36am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- Post #11,113
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- Feb 3, 2008 9:41am Feb 3, 2008 9:41am
- | Commercial Member | Joined Nov 2006 | 2,223 Posts
- Post #11,115
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- Feb 3, 2008 11:07am Feb 3, 2008 11:07am
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
- Post #11,117
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- Feb 3, 2008 1:33pm Feb 3, 2008 1:33pm
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
- Post #11,118
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- Feb 3, 2008 1:48pm Feb 3, 2008 1:48pm
- | Commercial Member | Joined Nov 2006 | 2,223 Posts
- Post #11,119
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- Feb 3, 2008 2:35pm Feb 3, 2008 2:35pm
- | Commercial Member | Joined Dec 2007 | 1,927 Posts