Short AUD.USD @ .9880
Stop 1.01
Exit .9550 (will re-adjust later)
Shorting because it reached 38% fib retrace from 1.0390 peak in mid Sept
Tuesday, September 27, 2011
Thursday, September 1, 2011
TGIS
Thank God It's September! (TGIS)
August was a brutal month and I am glad it's finally over.
The choppy volatile trading was difficult and frustrating to trade. I kept getting whipsawed.
I was getting stopped out of good trades, and taking big losses on the bad trades. Also, my Crude losses did a lot of damage to my account, but that was my own fault for not following my own trading and money management rules.
I should make a note to myself to stay out of the markets in August. Actually, better yet, I should come up with a trading rule to know when to side-step the markets. I think one the key skills to master in trading is knowing when not to trade. It seems paradoxical, but it's true. I have heard this mentioned by a few other well known traders too. So I need to work on this.
For now, I'll enter September with a fresh perspective and leave all my previous biases behind.
August was a brutal month and I am glad it's finally over.
The choppy volatile trading was difficult and frustrating to trade. I kept getting whipsawed.
I was getting stopped out of good trades, and taking big losses on the bad trades. Also, my Crude losses did a lot of damage to my account, but that was my own fault for not following my own trading and money management rules.
I should make a note to myself to stay out of the markets in August. Actually, better yet, I should come up with a trading rule to know when to side-step the markets. I think one the key skills to master in trading is knowing when not to trade. It seems paradoxical, but it's true. I have heard this mentioned by a few other well known traders too. So I need to work on this.
For now, I'll enter September with a fresh perspective and leave all my previous biases behind.
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