toyogo00
12-16-2008, 10:30 PM
Hi,
Blink has a good trade on EURJPY. However as I said in the chat room that I missed the early entry on the EURUSD of around 1.3629 retracement on hourly chart in the early London session (about 8am NY). When I managed to get in @1.3790 during the chat session at 11:30am NY, it went up only to 1.3841 and retraced back to hit my SL at BE. (I adjusted SL to BE after it moved up to 1.3841). See attach chart.
As what Neal wrote to me: ouch! (I missed that big move), the price retraced to 1.3772 and then shot up all the way without stopping immediately after FOMC announced rate cut to 0.25%.
I guess this is a good lesson on psycho of trading which is even harder to master. The good news is I didn't lose money as what Warren Buffett like to say on this investing that "Rule number 1: Do not lose money". And there is always another day!
Another good news is Neal's method (Fib study, TRSI, multiple timeframe) really works that we are able to catch the HIGH probable trades. We just have to practice more and more to gain experience over time. Thank you Neal again!
Here are the dailyforexcharts updates:
14 Dec 08: EURUSD has setup for a bull run, buy rally on the dips:
http://www.dailyforexcharts.com/charts/081214_eurUSD_SS/081214_eurUSD_SS.html
15 Dec 08: EURUSD will go into the next bullish zone if it breaks 1.3760 resistance:
http://www.dailyforexcharts.com/charts/081215_eurUSD_MQ/081215_eurUSD_MQ.html
Regards,
Toyogo
Blink has a good trade on EURJPY. However as I said in the chat room that I missed the early entry on the EURUSD of around 1.3629 retracement on hourly chart in the early London session (about 8am NY). When I managed to get in @1.3790 during the chat session at 11:30am NY, it went up only to 1.3841 and retraced back to hit my SL at BE. (I adjusted SL to BE after it moved up to 1.3841). See attach chart.
As what Neal wrote to me: ouch! (I missed that big move), the price retraced to 1.3772 and then shot up all the way without stopping immediately after FOMC announced rate cut to 0.25%.
I guess this is a good lesson on psycho of trading which is even harder to master. The good news is I didn't lose money as what Warren Buffett like to say on this investing that "Rule number 1: Do not lose money". And there is always another day!
Another good news is Neal's method (Fib study, TRSI, multiple timeframe) really works that we are able to catch the HIGH probable trades. We just have to practice more and more to gain experience over time. Thank you Neal again!
Here are the dailyforexcharts updates:
14 Dec 08: EURUSD has setup for a bull run, buy rally on the dips:
http://www.dailyforexcharts.com/charts/081214_eurUSD_SS/081214_eurUSD_SS.html
15 Dec 08: EURUSD will go into the next bullish zone if it breaks 1.3760 resistance:
http://www.dailyforexcharts.com/charts/081215_eurUSD_MQ/081215_eurUSD_MQ.html
Regards,
Toyogo