Tuesday, August 10, 2010

Trust what you know


Ok, these were my only 2 trades today. Have gone back to my motto of following the pip plan. All I know is that it will take a certain number of pips for me to get to a certain $ value of acct. I had stopped trying to take all of what the market gave, and just taken what I could get initially and not come back to the screen. My personal statistics were always that the longer I spent at the desk, the more I lost, even if I was up initially.

So after these two trades, I was finished for the day.

The first trade was a basic plan setup. Second trade is what I love, failed up/down thrusts. Very tight stop, and a simple clear exit. Now market did keep going up later, but I did not enter on any continuations because I have no idea where the retrace stops.

1 comment:

  1. it does not get any easier then this Kermut, good job at recognizing the seetup and executing the trade. Repeat do it again tomorrow....

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