Tuesday, 17th July 2018
T for Tuesday, T for Traders!
The market has been sideways during the Tokyo session and somewhat range bound this morning after London Open.
I expected the momentum to continue but then it became apparent when you notice one after the other retracement displaying weakness and therefore price unlikely to move any further, and so I decided to take what was on the table.
Some might argue that I should have closed my postions earlier.
Remember, looking back in hindsight it's far too easy to say "Shoulda Woulda Coulda" but the decisions you make at the
time are what will make or break you as a trader.
With my experience of doing this over several years I know for a fact that you must allow room for the market to move,
the use of trailing stops and breakeven stop orders will only make you frustrated as the market will get you out time and time again before you see any reasonable profit accumulation.
Remember, the goal is to capture the big momentum moves once or twice a week which make up for your profits for the week, month and year moving forward.
Total of 18 trades for today for 10 winners, 3 breakeven trades and 5 small losses:
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