Wednesday 16 March 2011

March 16th

Results




Not much to really say about trading today, the markets are continuing to fall in the long term. I had not slept today and decided to trade the European Session at 7am (my broker is 1 hour ahead). So I went to a 5 minute chart to get a sense of direction and what traders were doing at the start of the day. Seems there was an interest in buying the DAX30 for at least the first hour or 2. So I placed my buy order then took profit 13 minutes later.

Job was done for the day and I hastily shut down my computer and went to bed!



Once again I could have left the trade open about 30-40 minutes longer and made over double my profits, but as I have learned once too many times if you try to be greedy you will usually get burned. Stick to my profit target for the day, then finish and do what I want without any worries.

Goodnight all.

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