Right, here I am typing away on my second attempt to post this entry. I can't believe my first post, which I think was quite long, was deleted just by one single wrong and careless click of my mouse.
Basically I shorted the G/U at 1.9446, which subsequently went down to a low of 1.9182. I didn't close the position then as I felt that there was still downside pressures, so I adjusted my stop loss to 1.9300(which means if I get stopped out, I still have a profit of 140pips), and target set at 1.9000.
So that looks like a pretty good trade, but, truth is, it leaves me more questions and a more intensive search for answers. Queries like "how should I decide my SL and TP levels?", "could this downtrend with trong momentum turn around suddenly and shoot equally fast up to the previous levels of 1.95xx/1.96xx?" And given so many indicators and moving averages and horizontal price lines, and channels all over the chart, how do I figure out some sense out of what looks like a mess?
Well, so there it is, I gain, and I am left with more ground to cover. But I shall strive, and someday I shall trade properly, profitably and gain boundlessly from Forex. A word of gratitude to my mentor, and all who helped, is helping and will help me along this route. And a toast to you guys out there who are treading the same path as I, to trade successfully to avoid the rigours of the rat race. May we all trade well with conviction!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment