Monday, November 12, 2007

Trading Results, Overnight Session Nov 12/07


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Good points:
- made a plan, and followed it.
- trusted in my analysis.
- market proved my analysis correct (this one felt good, and I wish all trades were as easy and stress free as this one - everything unfolded according to the trading plan).

Room For Improvement:
- Always have a technical reason for exiting the trade.
- add an exit strategy as part of the trading plan. In this case, using tape reading techniques would have been the best way to time the exit.

The coordinated and correlated movement between the 4 major currencies (AUD, Loonie, Cable, Euro) occurred again tonight:

Note how the bull's party gets started at around 4pm for each currency.

I got a signal to short Cable on the break below 2.066, but couldn't bring my self to hit the sell button because I feel tired and now and plan to go to bed.

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