Thursday, 2 July 2009

The Lessons Learnt from this BO.

Despite the trade being profitable a few lesson can be taken:

  1. It was valuable to have profit locks as BO reversed quickly
  2. Always be aware for descretional exits, BO occurred at 0730 - 0800 in the morning Begining GMT session and close to Quarter end/ Triple witching
  3. Break Out will happen when ready and watching for a few weeks requires patience and concentration
  4. It is easy to pre-empt false BO's, no this is the BO... no next one is no...etc?
  5. 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
  6. Failure for GBP to look strong vs other Currencies JPY/EUR/CHF belied impending delay's in pattern look for confirmation relatives
  7. Do not get too active on short term intraday patterns as dfar as getting involved
  8. use small size on everything but the key level take outs
  9. Next time have a greater percent locked in for exits
  10. Remember Copper trade that got entered without stops on extreme day
  11. Keep cancelling and resetting entry orders where pattern dictates and new lines of significance emerge

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