Tuesday, April 20, 2010


I went long at 1.0636 and now have my stop somewhat better than breakeven and have taken partial profits at +46 pips. This is a tough resistance area so we'll have to see if it can get through it. If not, then I'd expect the scenario to unfold that I wrote about earlier—the pair may drop to the 1.0520 area where it's a better entry point.

© 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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