Monday, August 15, 2011

POSITION TRADE



PLAYS:
SHORT SCALP TO TRENDLINE; REVERSE LONG FOR TREND CONTINUATION; EXIT IF TREND IS BROKEN.


Yesterday I had made some rookie errors in terms of not having a clear analysis of the price structure of a higher timeframe. I focused too much attention on the 1 min timeframe, therefore entered many trades (over traded a little) at inappropriate places. The only thing saved me again was my willingness to taking small losses and actually traded in the moment absent of fear even I had a larger than usual sizing.

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