Monday, September 8, 2008

Scaling Lesson



1 trade in the pre London.
-5 pips, trade had two options, as it turned I exitted.

1trade NY of Eur/Usd -Double Top, waited for the 1min stochastics to roll into the trade zone(below 75), the trade wiggled around, it was Pre NY so we were at the point of going long or short, at the peak of my trade I had +44 pips. I waited for the larger move, but got shaken out. At this point (800am HI) if I had kept the trade at break even I would be up 220+ pips. Lessons, scale. When in the profit, project a point to scale, then be comfortable with letting the rest run to reak even. Part of this to note is time of day. We were at a market open.
+16 pips

Here's the EUR/USD trade

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