Wednesday, June 02, 2010

First Trade EURUSD#1



Saw a triple bottom at 30m EURUSD chart, and looking for a chance to short it if it were to break the triple bottom support. Entered the trade as soon as the black candle piercing the bottom closed, with a 15-pip SL.

No surprise, I was stopped out very soon after that :P

Lessons learnt: always wait for retracement, play safe! Also, looking at Slow Stochastic, it didn't show a clear signal of turning down. Instead, it was in the middle of nowhere, and perhaps showing signs of turning up! To be honest, i didn't do enough study on this before entry. Only a brief look at chart, and the itch of getting into a trade got the better of me.

First trade, a losing one :)


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