Wednesday 13 February 2013

11/02/2013 NZD/USD long (win)


Took this trade a few days ago and it just hit my target today. This was a pinbar I took to go long on the daily chart. Here is my entry chart which explains everything (click to enlarge). Risk was 0.5% as usual, and I was aiming for a profit of 2:1 RR.







and here is the exit chart which shows price going up and hitting my target, giving me a nice 2:1 profit.





Took a couple of days to hit the target but I hardly monitored this trade. Chart watching is a waste of time unless you're a scalper. You'd be better off playing golf or something. Just checked it every hour or so and moved my stop to break even once I hit 1:1. Trying to become less emotionally attached to my trades, and I think it helps to just walk away from the screen for a while. 

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