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Mar 23

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Week 6 – Tuesday 23rd March

A day that promised so much that somehow I conspired to manhandle. What should have been a nice profit with the few trades I undertook turned out into a loss of 80 pips on the account.

A combination of :

1)Not holding firm to the strategy when close to the stop-loss on EURCHF today cost me 70pips. I manually exited when another JPY trade hit its stop-loss so wrongly I took this one-off the table. Letting the trade run it’s course would have been the thing to do – either hit the stop or don’t. Either way the trade did take 10 hrs to mature.

2)Incorrect setting of stop losses also was a problem on EURCAD that cost me another 40pips. Got taken out prematurely in the trade.

I did finish the day with +20pips on EURUSD following my 1m Snapper Strategy. I’ll post this one to the blog so something positive for a change!

1m Snapper Trade on EURUSD +20pips

1m Snapper Trade on EURUSD +20pips

Good Trading y’all.

Jim

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Permanent link to this article: http://intradayforextrading.co.uk/2010/03/23/week-6-tuesday-23rd-march/

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