This a typical example of impatient trading. I shorted while price was above previous low and rainbow all messed up. As a consequence, I took the bounce and exited with -10p. Re-entered by revenge, took an other -12 or so, not closed, price then dropped again and I closed as soon I got back the 10 pips. This closing point is precisely the correct place to short the market, the break of the range...
Thursday, March 20, 2008
Trading in the range
This a typical example of impatient trading. I shorted while price was above previous low and rainbow all messed up. As a consequence, I took the bounce and exited with -10p. Re-entered by revenge, took an other -12 or so, not closed, price then dropped again and I closed as soon I got back the 10 pips. This closing point is precisely the correct place to short the market, the break of the range...
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Trading in range can be really profitable, but the correct entry is what we need in order to succeed. I always prefer to enter when I am certain and thanks to high class broker like OctaFX, it is always possible with their facility of daily market analysis, it is provided completely free and following this always lead to serious profits which is why I love it so much and always prefer it due to the high level of accuracy that they have got.
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