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

Tuesday, September 20, 2011

Gold, Aud/Usd, Eur/Usd - Nice Lesson

Flopped my Eur/usd trade yesterday. My mistake as mentioned in the previous post was selling at support, when it was clearly not even broken. Great lesson -71 pips.

Sold five units gold trade Xau/Usd at 1,779.64
Closed 1,776.49. So lucky, hit take-profit and then go back up and never returned.

Sold 15min chart Aud/usd at fibonacci levels at 1.0266
Take profit a little above fibo support at 1.0248

Highlight of the night is Eur/usd trade. It was a beautiful buy limit set right at fibo support (first arrow up). It was hit and then smoothly it rebounced like what the line is made to do. Soon it struggles and then in between in less than 5 minutes, it dips for about 40 pips before candle closes below the fibo support, very near my stop-loss. 

I thought with such strong selling momentum things are turning around. I threw my allegiance with "long" position into the dustbin and went "short". In reality, it was the "shorter's" last hooray instead. They quickly die off and price went up towards my original target.. F***. In heat of moment, I throw into 2 more averaging losses to make things worst. The "long" army continue to advance. I felt like a traitor who left his country to assist foreigners but end up dying with them, only to regret at my dying breath.

Break-even night at the end. It's been a while since I traded side-by-side (thru' mobile/msn) with Bottle. Miss those days!

Gd luck guys!


1 comment:

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