Sunday, October 9, 2011
Preparing for the break
I have stopped trading in the last days because of a health problem. I had only these trades a couple of days ago. As price was going to break the resistance (previous high), an intense movement forward and backward took place and my stop was hit. It was too risky to widen the stop, waiting for the almost sure (?) breakout. I have done this in the past and payed a lot.. A tight stop method like mine is vulnerable when applied on breakouts. That's why I apply it mostly when price is in a mid-range.
Labels:
E-mini trading,
trade analysis
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3 comments:
Best wishes for your health,
Petr, Vancouver
thank you very much,Petr.
In anything break is extremely important because it not only refreshes us but also we can think and see how our performance is going as that will help us more in future while the problem with no break will not allow us to monitor our performance. I love to trade with OctaFX as they give me great demo contest accounts like cTrader and Champion, so I can take break from my real trading and enjoy my time there with chance of winning prizes up to 400 – 1000 USD.
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