First trade of my "in and out" goal for 2009. 25 pips in 30 minutes. Not too bad. Lots more to come, but had to document the FIRST!
The most important aspect is that I followed my trading plan as designed.
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A discussion of the Foreign Exchange Markets (FOREX) from the view of a trader and a dog lover- See my Blog entry from Tuesday, Dec. 9, 2008 to understand what FOREX and puppies have in common- REALLY, there is a connection!
2 comments:
Nice trade, I like these too. I'm trying to make a more defined strategy for trading them. It's great when the EURUSD gets down to a 0.9 pip spread! Or maybe you just have to trade these on feel? Hmmm....
I have come to the conclusion that it's all about focusing on one trading plan/system and sticking to it. It is too easy to try one strategy then another and get lost in the mix.
The problem with trading on feel is that there is no way to track a feeling. It is not definable.
Since I have decided that looking for lower time frame set ups is what I want to focus on this will be my plan for the next two months. So, with that in mind I will take one system and work only on that ONE.
Every system I have ever studied works for the "teacher" of that system. So, I don't think it matters what system you use as long as you focus on that system and make it work for you.
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