Thursday, February 11, 2010

EURUSD--key support

Euro has dropped as low as 1.3595 and is hesitating a bit. The prior low is 1.3586 and it will be significant if it cleanly breaks this. I took partial profits on one of my short positions at +100 pips but I'm going to let all the rest either stop out somewhat above breakeven or run until they can't run anymore.

© 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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