My views on future trades, past trades, the market and lessons learnt

Tuesday, May 19, 2009

Its all about precision

"i would try to wait for 1.3576 to enter... will try and get in the trade at a good price"


Got my entry @ 1.3578. After the first 15m candle that opened & closed below the 1.3566 Power Level, I set my SL to BE+1 and my TP to 1.3536 (and walked away from the screen, had errands to run). TP was missed by only 3 pips "C'est la vie". Stopped for +1pip.
Took a short from the 1.3611 Power Level, Price is too bullish, closed for -4pips when the opportunity came...
In Summary
2 Winners (+23pips & +1pip)
1 Loser (-4pips)
Will try to sit on my hands for the rest of the day 3 trades in one day is enough, however if a good entry off a power level occurs I will take it.

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