This is an excerpt from Day 4 of my project 50 pips trading note
9.25 am PST - I told you it will be over if this thing doesn't move as we don't have all day. Closed for 21 pips for a total of 33 pips on the day. I don't know why I ignored the Loonie short as it happened the way I thought but decided I was going only for the Aussie and it would have given 30-40 pips what a shame!!
I am just trying to mimic the struggles we go through as traders in our decisions and options.
It doesn't matter what you make, just make sure you don't enter loosing trades, and you can always re-enter trades after pullbacks. My long term trader friends lost all their pips and even made a loss after 100+ pips in kitty. I prefer to day trade for now as long as the market continues to oscillate and not trend continuously.
Now, let's set our alarm and keep an eagle eye on the Euro & Cable long that will surely come. I'm off to rest somewhere in the office as I've been up since after 2 am.
10.50 am PST - the alarm on one of the pairs I was watching just triggered, and saw that my decision to close the Aussie trade was a wise one even though pair went up another 15 pips before dropping. The Aussie however is still a buy and will keep the alarm active - back to bed.
DISCLAIMER
Please read the disclaimer on the home page
9.25 am PST - I told you it will be over if this thing doesn't move as we don't have all day. Closed for 21 pips for a total of 33 pips on the day. I don't know why I ignored the Loonie short as it happened the way I thought but decided I was going only for the Aussie and it would have given 30-40 pips what a shame!!
I am just trying to mimic the struggles we go through as traders in our decisions and options.
It doesn't matter what you make, just make sure you don't enter loosing trades, and you can always re-enter trades after pullbacks. My long term trader friends lost all their pips and even made a loss after 100+ pips in kitty. I prefer to day trade for now as long as the market continues to oscillate and not trend continuously.
Now, let's set our alarm and keep an eagle eye on the Euro & Cable long that will surely come. I'm off to rest somewhere in the office as I've been up since after 2 am.
10.50 am PST - the alarm on one of the pairs I was watching just triggered, and saw that my decision to close the Aussie trade was a wise one even though pair went up another 15 pips before dropping. The Aussie however is still a buy and will keep the alarm active - back to bed.
Please read the disclaimer on the home page
No comments:
Post a Comment