Thursday, January 21, 2010

EURCHF—still short

I still have a small short remaining in this pair. The original short was placed in mid-December at 1.4928 and I’ve taken partial profits. The candles still look bearish so there’s no reason to bail out of the rest of it. If the SNB has indeed forsaken intervention, then the next major support area is 1.4578. I’m profit stopped at 118 pips. Here’s the daily chart:

© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.

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