ThinkExist Dynamic daily quotation
“Many of life's failures are people who did not realize how close they were to success when they gave up.”
- Thomas Alva Edison
prayer

Thursday, April 8, 2010

21st trade


This was taken 8th April. This was a W.3 breakout trade. When the market was ranging i set the SL to breakeven. Hence this was a breakeven trade.

20th trade


This was taken 8th April on USDCHF 60min. ENTRY was @ 1.0719 SL was @ 1.0810. Entry is still outstanding and on 13th April the trade was set to breakeven and a TP was set @ 1.0537. Well this was a winner, cool 182 pips .

19th trade


This was taken on the 8th april, on USDCAD 60 min. ENTRY was @ 1.0070 and SL was @ 1.0130.
On the 13 April the trade was set to breakeven and profit target is 0.9950.

Currently 14th april 1900 (GMT+8) i am setting the SL to 1.0010 (risk to reward becomes 1:1). Its better to protect the profits then let it lose like i did in trade 18.

Now its 15th April 1325 (GMT+8) i am setting my SL to 0.9995 (RR = 1: 1.25), reason being saw some resistance at this level.

Well my SL @ 0.9995 triggered at about 1700 to 1800 but it was a cool 75 pips gain.

18th trade

This was taken 8th april. A breakeven trade. Entry was between 50% and 61.8%. STICK TO THE RULES....which i didn't. But nevertheless the risk was 43 pips and the reward was suppose to be 86 pips which was hit but i did not exit as i waiting for the profits to run. But a good thing was when the trade was in profits of 43 pips (100% of risk) i set the stoploss to breakeven, hence when the trade retraced, i did not lose. Well not bad.

17th trade

This was taken on 8th April. The entry was good between 61.8% and 76.4% fibo. This was a 50 pips loss. Lesson Learnt : Put SL to breakeven when in profits. Well need to find out when should we put to breakeven. Thats something to think about.

Wednesday, April 7, 2010

16th trade

This was taken 7th April. This was a breakout of Wave 1 entry. STOPLOSS was put at 23.6% fibo of W.1 . Risk to reward was 157%.

15th trade

Took abit of time off. This taken on the 7th april. Well back to the drawing board ( This was in the demo). Entry was slightly above the 61.8% fibo. Lost 155 pips. Wrong analysis. Lesson learnt: Define Risk ( i.e i am willing to lose 100 pips per trade.) Hence this trade i would not have taken as the RISK is too much to handle.