Quote:
Originally Posted by Kenny Rogers
Back into the game.
Going to take a small manual trade here on the Euro long, hopefully to close out in a few hours with small profit. The price has formed into a triangle, and can break out either way. I'm hoping for a small spike up (either a head fake or a genuine up move) so I can lock in some profits. Definitely not a trend trade here.
I have a window of 4 hrs before the London Open, where it's going to really start moving. I'm hoping to close before that. Keeping my fingers crossed.
Going to check back in a few hours. Cya!
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The manual long trade I took before London open didn't close until the US open.
But when it did, it was a huge spike on the Euro to my favor.
In hindsight, it was mostly luck though because if the spike had gone the other way, I would have had a major loss. But I'll take it, that's why this is trading.
I was playing the high probability that price would touch either of the trendlines for small "scalp" profit. That's all I was looking for.
The problem with many traders is analysis paralysis. They want to filter out all the bad trades. They want to have very high probability of winning based on past history.
And after all their criteria and filters, they can't make a decision to actually trade because there are too many questions in their own head.
Account #1 Summary (Post Date):
Deposit/Withdrawal: 20 000.00
Balance: 37 750.73
Equity: 37 750.73
On the chart, I drew 2 trendlines in red, as you can see the Euro was compressing into a triangle.
I entered at the opening price of the light blue line at 1.2615.
I was hoping for an exit around where the yellow X is with a trailing stop because I had thought the price would at least hit the upper trendline before any real movment.
When the spike came, it was so fast that I actually exited at the yellow line 1.2706 via a trailing stop and left 100+ pips on the table.
It's all good.
I could have easily folded, but thanks to The Gambler, I knew when to hold and play the hand!
/cue the music
