Tuesday, October 5, 2010

EURGBP—constrained by cable

Since I went long yesterday the pair has gone essentially nowhere, no doubt held back by Cable. I closed my long this morning for -3 pips since I think the picture is somewhat muddied. It dropped below what looked like .8662 support. No reason for a chart as there isn't much to show until it either moves above .8740 or drops to .8521.

© 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.

No comments:

Post a Comment