- It was valuable to have profit locks as BO reversed quickly
- Always be aware for descretional exits, BO occurred at 0730 - 0800 in the morning Begining GMT session and close to Quarter end/ Triple witching
- Break Out will happen when ready and watching for a few weeks requires patience and concentration
- It is easy to pre-empt false BO's, no this is the BO... no next one is no...etc?
- Some money was made inside the range on successive evening star Candle followed by bottoming bar. exploit these to feel in the motion of the move
- Failure for GBP to look strong vs other Currencies JPY/EUR/CHF belied impending delay's in pattern look for confirmation relatives
- Do not get too active on short term intraday patterns as dfar as getting involved
- use small size on everything but the key level take outs
- Next time have a greater percent locked in for exits
- Remember Copper trade that got entered without stops on extreme day
- Keep cancelling and resetting entry orders where pattern dictates and new lines of significance emerge
Thursday, 2 July 2009
The Lessons Learnt from this BO.
Despite the trade being profitable a few lesson can be taken:
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