Wednesday, September 29, 2010

importance of patience


Took one trade on Monday, but it was only a small trade, and I was too tired to make a screenshot.

This is Tuesday's trade. Well, this trade was all about patience. When I sat down, EU was in no man's land, half way between the pivot and already rejected off r1. Since eu is in a strong up trend overall, my preference has been for eu buys rather than sells. Once I started to see the down move, I decided to wait for pivot, which was nicely located around the 50 level (48). First trade was a pivot bounce, second is a reversal trade at the pivot. I could have held for longer, but I have stopped looking at hindsight trades. I reach my goal, and that is it.

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