I closed my trade from .8663 at +55 pips and the one from .8670 profit-stopped out at +10 pips. Now the pair is edging back towards the tantalizing .8674/82. I'm getting ready to wrap up for the day but may consider another position depending on price behavior and momentum in the near-term.
© 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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