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Monthly Archives: November 2010
9 Nov 2010 – 1024 EST GBPUSD Short
After patiently waiting for the price action to form a pattern I could trade, I took this short at 1054 am EST which matured in less than 30 minutes. I erroneously sold another 3 contracts near entry and exited them … Continue reading
Letting the CABLE Sleep
This post is just for fun. I really liked this song even before I knew that the GBPUSD was called “The Cable.” Enjoy…
Posted in Deep thoughts
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Failure is Part of Trading
This is a short post. About 15 years ago, Nike came out with a Michael Jordan TV advertisement that touched something inside me. The ad was about all of his statistical failures…but in the end, it focused on his success. … Continue reading
Posted in Deep thoughts
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101105 – 0557 EST GBPUSD Short
I did not take this short because of the mix of higher lows and higher highs that directly preceded it. The first target would have been reached and then the trade would have been stopped out, most likely at breakeven … Continue reading
Posted in Trades Missed
Tagged British Pound, forex, GBPUSD, short trade, Trade Management, trading system
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101104 – 0745 EST GBPUSD Long
Good quick long this morning after UK news announcement at 0800 EST. My signals allowed me to enter the trade prior to the news announcement, which worked out well because once the news came out the spreads opened up and … Continue reading
Posted in Trades Taken, Winning Trades
Tagged British Pound, cable, Day Trading, forex, free forex chat, GBPUSD, money management, ninjatrader, pivot lines, rmo, trade journal, Trade Management, trading system
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101103 – 0900 EST GBPUSD Short
The long trade moved too fast in the 0500 session today to take advantage of it, and the stop loss placement was unclear, so I stood aside. I was too busy in the 0900 session to take advantage of this … Continue reading
Posted in Trades Missed
Tagged British Pound, cable, foreign currency trading, GBPUSD, stop loss, trading psychology, trading system
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101101 – 0500-1300 EST GBPUSD
The early morning long trade just after 0500 EST worked out pretty well, hitting 2 out of the 3 profit targets within 45 minute of entry. The market drifted sideways and slightly down, making lower highs and then a double … Continue reading
Posted in Trades Missed
Tagged British Pound, cable, forex blog, forex profit targets, GBPUSD, pivot lines
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101029 – 0500-1300 EST GBPUSD
In hindsight, it’s is always easier to think that I would have stayed out of a losing trade. The real test is making a decision on the right hand edge of the chart. The first short trade I may have … Continue reading
Posted in Trades Missed
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101028 – 0500-1300 EST GBPUSD
One long opportunity in each of the sessions. The 0500 session would have mandated a subjective decision for the stop loss.
Posted in Trades Missed
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101027 – 0500-1300 EST GBPUSD
The risk reward on the long trade presented in the 0500 session may have kept us out of it. Patience would have paid off because the short in the 0900 session hit all three targets nicely.
Posted in Trades Missed
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