Monday, February 1, 2010

Gagged

NG 2min
I had placed my stop at above R2. After seeing a USD 200 profit, to have to watch price make a U-turn for R2 was just plain torture.

I have yet to make out if it's just my style, or a bad habit I should consider breaking - I tend to be overly aggressive/ambitious in the beginning of the month, get all bruised, and spend the rest of the month pretending that I have amnesia so that I can continue to trade.

I'm not sure that I want to switch mode like I did last month after taking a substantial loss in the first 2 (3??) days of trading. The thing about trading in the conservative mode ie. constantly moving stops to protect gains, is that I'd have to give up the kind of profits that come with my adhering to my exit rule.

Objective for the trade above was a level slightly below pivot - a USD 1500 profit target.

I'll probably be spending the next few days in a daze.

In green box are today's trades:

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