What to do when your trade goes against you?

Just like it happened to me today, sometimes you enter an order, it gets filled then goes a little bit against you and gets stuck in a range. What should you do? After years of trial and error I finally convinced myself to take a loss and go home, so to speak. I know first … [Read more…]

Tu., Jan. 14 news trade results: -60 pips

The price did not move much on the news today. It just went down enough to get me on board before bouncing back. I just closed the position at 1.3678 for a round loss of -60 pips. Unfortunately, there is no way to win every day. When losses do happen I prefer to cut them … [Read more…]

Mo., Jan 13 trading results: +121 pips

There was a quick and sweet trade in GBPUSD today. Both profit targets were reached in a whim and I closed the third unit at 1.6353 making a nice quick profit of 121 pips The other orders are cancelled.

Mo., Jan. 13 morning

EURUSD Buy 1.3703 SL 1.3648 P1= 1.3723 P2= 1.3743 GBPUSD Sell 1.6419 SL 1.6451 P1= 1.6402 P2= 1.6481 USDCHF Sell 0.8998 SL 0.9041 P1= 0.8981 P2= 0.8961

Fri., Jan. 10 trade results (+80 pips)

The initial move of EURUSD price to the downside triggered my sell order for 3 units. Just minutes later that sell order was covered for a loss of -90 pips. Simultaneously got triggered my buy order at 1.3606 and the price continued its upward move. Out of the 3 units bought at 1.3606, the first … [Read more…]