EURUSD SHORT POSITION Closed

By on May 4th, 2010

OK, I was stopped out of the trade at price 1.2985.and earned 105Pips on this trade.

there are a couple of things i have to work on.

  1. define and apply the definition of putting money on the table.
  2. staying in a winning trade as long as possible. normally this is the opposite(staying in a loosing trade hoping it will come back : ) )

I still have to find a way to stay in a trade and yet not leave money on the table. for this i am using Heiken Ashi charts to trail my stop on the time frame i entered the trade.

for example, i entered this trade on the 1Hr chart, so i use Heiken Ashi on the same time frame to trail my stop.

The rational behind exiting at this level was only the importance of the price level EURUSD was getting into. this level was touched once back in April 2009 and price never got back to this level.

other than that all Ichimoku components shout SHORT.

here are the screen shots of my trade when i closed it.

Comments are greatly appreciated.

Cheers.

GHTime Code(s): 23ed4 nc 
Categorized under: EURUSD, Forex.
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