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. [Posts will be made daily between 9pm-12am PST/ 12am-3am EST with the exception of most holidays]
Monday, October 4, 2010
FOREX DOJO TRADE # 21
Tonight I wiil buy GBP/JPY @ 132.20 with TP 132.86 and SL 131.70. I don't have much time to explain my reasoning for the trade but I will say that the break above 132.25 about an hour ago is the reason for buying at 132.20. It should now serve as support with additional support lying around 131.80-131.90. Resistance around 133 looks strong so my target is just before that mark.
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