A typical short entry fot me -continuation of the downtrend - and my typical refusal to close a losing trade. price went to -16 or so, i was lucky to close on the next price low test. A typical London opening reversal too.
Monday, July 7, 2008
Bear's trap
A typical short entry fot me -continuation of the downtrend - and my typical refusal to close a losing trade. price went to -16 or so, i was lucky to close on the next price low test. A typical London opening reversal too.
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We need to be really careful with such trades, as it can take our accounts to cleaners; I believe we must learn to accept the losses very quickly, as that is the only way we will get any positive results. I am trading with OctaFX broker where I get endless benefits on everything. Also, they have rebate program that gives me 50% back to the paid spread, so it’s really awesome having such facilities and makes my life so much easier.
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