Mar
03
Wednesday, March 3 Update
ByHello everyone.
We may have a trade opportunity today.
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Sep '10: +1 pips
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ago3 guests are online.
- Chris : scalping room is now open
- rick : chris ,in chat now
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2 Comments
March 3rd, 2010 at 10:47 am
Hi Chris,
Like you, I was in with two trades of 0.20 lots each. After a 30 pips in, I was looking at the momentum of the last two 1H candles. I was afraid that the momentum was strong upward and I close both trades, making some four mini lots with 18-22 pips each, so I got out my self with a modest profit. I have seen that my attention to the momentum was not wrong. So, probably was not the best way to get out, but my opinion was not wrong, I think. And I did this, because I try to practice my candles analysis.
Now I also am waiting to see the right momentum to go again short.
I am also watching closely the AUDUSD, which is still not clear if it is a test of the resistance after his break up, or there is a false break and the trade will go down…
Terry
March 3rd, 2010 at 3:26 pm
Good going Terry. You did the right thing by exiting both trades after seeing a loss of momentum. :-)