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.

Tuesday, January 29, 2008

Conclusion about 3 losing trades:

All were taken on trend analysis, not taken into account SR lines, only weekly chart as confirmation. I took trades that I thought could move after retracing on trend. Didn't pay attention to candlestick pattern, just if one candle was moving in the trend direction again after retrace.

Mistakes:
  1. Not paying attention to patterns
  2. Hindsight - no SR lines, no lines at all, even trend lines
Overall, I think the biggest mistake of all, that I've been doing over and over again, is not paying attention to patterns, just paying attention to overall movements. From here on, I will try and address this disability when taking trades. No trades in places I can't recognize clear pattern and CONFIRMATION candle (which may be optional, depending on the results of the statistics I'm about to make with testing platform).

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