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

Wednesday, July 21, 2010

21 July, Eur/Usd, Aud/Usd - Hold Your Ground

I am back. Well, I wasn't gone anyway. How I wish I have summer vacation like everyone else. Worst still, my new semester of night classes are resuming next week.

Thanks everyone for the encouragement after the "tilt" night last week, like what FX called it. You want a better overview of my tilt night, other than going back to my previous post, you can read an insight here on what kind of behavior I was experiencing in the process of a losing night, for traders.

As always, after such night, the next trading day will be taken slowly. I had 20 minutes trades (about there) tonight, no tens of time in between this time. :) I took 2 trades, one in Eur/Usd, one in Aud/Usd. It went against me at start. Good thing was, I didn't went against myself. I held. Price went towards my take-profit and I was out peacefully.

Below is a shot of Eur/Usd in 1M chart. I traded 15M chart for both btw, for screen-shot sake. More significant downtrend off Eur/Usd. Bounces off 20SMA beautifully.

Aud/Usd in 15M. Short after reversal. Take profit at previous support.

+22 pips. Long way home.


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