Wednesday, July 14, 2010

EURUSD—update 2

Added a long position at 1.2713 as it moved above a triangle on the five-minute chart. I'm assuming the triangle will break up as that is the direction the pair was moving prior to forming. I'll be happy when I can move my stop to breakeven. The market looks a little unstable. Here's the 5-minute 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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