Patience. Simplicity. Discipline. The most important factors, yet the most difficult to grasp for most Forex traders. As a young trader who has experienced great losses as well great gains my journey has led me to this point. 1 TRADE. 1 PAIR. 1 STRATEGY. Once a day.
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Monday, September 6, 2010
TRADE#2B IF I made profit from the fall then I would put 10-15 pip trail S/L
Buy GBP/JPY@ 128.76 TP@ 129.22 SL@ 128.35
Correction bounce at 128.60-128.80 should be good for about 50 pips but a clean break could could bring 128.00 pretty fast so a tight stop is necessary and use a trailing stop of 25pips.
P/L results= 0 pips (broke even on trailing stop)
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