Wednesday, November 3, 2010

EURUSD—narrow range

Euro has been in a narrow price range of 1.3992 to 1.4059 since yesterday morning. Everyone's waiting on FOMC, I guess. Regardless, until it breaks above in a definitive fashion there's not much to add to yesterday's post. I still have two longs from 1.3885/83. I took partial profits on one at +131 pips.

© 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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