Positive Day

A nice start to the week today despite me starting with a customary Monday morning GU loss. I was a little hesitant to enter GU on a long trade given my entry was right on the close on the last candle on Friday, 1,5200 had proven strong resistance slightly earlier in the evening also. I entered none the less and quickly watch the trade go in completely the wrong direction and I couldn’t help but smile. I’m keeping accurate notes of these trades with mechanical entries where I strongly dislike the entry for various reasons. So far I’d of saved quite a few pips if avoiding them.  It’s always a fine line when trading mechanical systems, you either follow them or deviate and that is a dangerous game as you can begin to miss several trades. Anyway, I ended shorting GU for a nice win but I also had two other signals to short it but didn’t take them as I wasn’t keen on tripling my risk on the down move. I had the opportunity for a very good entry on one of them but declined it and in hindsight I should have taken it given the risk:reward on offer.

I need to build from here and start making some gains that I thought were possible at the start of the year. It’s way too early to be getting excited but I am very happy with the recovery so far. I’m taking one day at a time and it seems to be working so I’ll try to continue along this path for the time being.

    • stevetrade
    • March 17th, 2010

    It’s good to see you getting back to your old trading success. Long may it continue!

  1. Thanks for that, Steve. Best of luck with CIM 4.0

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