Currently I'm continuing my journal at www.forexfornoobs.com

Currently I'm continuing my journal at www.forexfornoobs.com

This is subject to change in far future. Until then, I'll keep it there.

Friday, December 7, 2007

EURUSD
time frame ----- 4h
account after -- 1455,95
entry ---------- 1.4611
SL ------------- 1.4627
TP ------------- 1.4587
profit --------- -32
date ----------- 7. Dec
risk level ----- 2,13%
risk to reward - 1,5

Photo Sharing and Video Hosting at Photobucket

Reason for:
entry - breaking of a resistance and pivot point
stop loss - 16 pips (no proper reason - mistake)
trade profit - calculated from SL - mistake, has to be a logical reason for exiting

This trade was made mostly from seeing a good setup. No former planning was made. Also, the momentum wasn't on my side and I had no idea, how strong the momentum was, because I hadn't been observing this pair.

MISTAKES TO AVOID IN THE FUTURE:
1) no trading with a pair I hadn't been observing
2) no entering into a trade I hadn't planned in front
3) profit and loss targets must have logical reasons




---

No comments: