Wednesday, April 16, 2008

Oops I did it again!


USDJPY has no range for today so I focused on cable. More risky, more spiky trades but the reward is sweet. I entered the BuyZone at 1.97005 and put my limit at 1.9715. Do you see the red candle? My limit hit and immidiately (less than a second) the price dropped to 1.9711 and then even to my entry point.
First minute I was in about -6 pips loss but I did not reverse or close because of overall cable trend. Also I look for EURO action as an indicator. EURO was up so I did not take my stoploss.
So I got my sweet 14.5 pips and was out quickly. I do not care the next candle is green.

3 Comments:

epm1013 said...

Hi Daniel,

Are you strickly a technical trader or fundamental trader?

Eric P. Martin

clicker said...

I would better call my way of trading "quick or dead" or "pirate" trading. If I see some pip potential I try to grab it otherwise I sit and wait next chance.

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