"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Wednesday, March 31, 2010

31 Mar, Aud/Usd - Last Trade of the Month

Session: New York
Duration: 3 minutes.
Timeframe: 15M.
Technical: Moving average, fibonacci.
Fundamental: -
Strategy: Tapped and closed well below 100 SMA, fibonacci as stop-loss.

To some, it might appear to be some superficial reasons to take my kind of trade base on my strategy, but thats what's been making me a little bit money. But i guess using this method, the most important thing is to know when u wan to go in, and when u wan to go out. Often times, i tell myself to get out by 5 pips but greed caught me and my profit end up ticking off instead. This can be corrected easily, unlike if u were to close a floating loss - not able to accept it some times still means u have to accept, at a greater loss.

+6 pips.


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