Wednesday, April 7, 2010

Losing Trade AUD/USD

Aud/usd .....LOSING TRADE

Entry 92.86 , break of a bullish flag ,trading what I thought might be a continuation move higher, after the 30 minutes of the trade not going anywhere ,I decided to close the trade for a -5 pip loss thus preventing  a stop out which by the way happened minutes later ,reviewing my trade ,there was definitely an earlier entry that I could have looked at entering on the 50% retracement level forming support ,that would have at least got me into an positive position looking for a continuation break higher ,exposing the markets money ,but like always, hindsight is always profitable . Taking in a bit of knowledge that Richard gave me this morning ,if the trade is not going anywhere get out ..thanks Richard ,your advice saved me money lol

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