Monday, May 19, 2008

Monday 5/19/08 Update

I'm not happy Bob....NOT HAPPY!


It's three of three for the last trading days that we've taken a hit. It's disheartening to see, and while I know the stats say not to worry, I can't help but get upset. There was 2 crossover today's and I missed the first one. It was a losing trade so I figured that the next one would be good. Nope the second one was a loser to. This is how I traded today.


Today's Trades:


4:00am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.9597 with a stop at the most recent swing low at 1.9541. Since I was only 3 pips away from the nearest 50 or 00 level (1.9600), I decided to go for the same amount of pips I was risking on the trade, which in this case was 56. This put my target at 1.9653.


Entry: Long at 1.9597

Stop: 1.9541

Initial Target: 1.9653


8:00am EST- Unfortunately I was stopped out of my trade.


Results: 1 trade.......-56 pips...........3 lots......-168 pips.


Here are the charts for today. They include the trade that should have happened earlier.


Talk to you soon.


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