We are traders and masters of risk. When you become pro you stop over analysing and all you do is sit there, and wait, and wait, and wait some more until you find the perfect trade. What I am saying is that the market makes all the decisions. Our only decision is to listen, feel, and respond to the market’s siren. Always and without exception. Remember, the market never lies. It is only we who lie to ourselves.
Monday, March 12, 2012
Long EUR/USD March 12 2012 Monday
Today we got stopped out of a EUR/USD trade. We saw price action move above all moving averages, price consolidation, and a variation of the cup and handle pattern. I moved to break even after 23 pips. Unfortnately we got stopped out at break even. No major loss here. We will wait for next day's price action. Wait for you setup patiently and you will be rewarded.
Entry: 1.31603
Stop loss: 1.31319
Target profit: 1.32157
Result: Break even, no profit or loss
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