Well even though Consumer Sentiment came in stronger than anticipated mixed market action stopped me out of my trailing ATR stop of my short USDCHF. I had already booked 1R in profits (closing half the trade) the other day when prices began to stall.
Trade Result: +2.07 R or +124 pips
P.S. A lot of traders would be totally fuming right now that their stop got taken out (nearly to the pip I might add) and be sitting there blaming the market, blaming their broker, blaming the locals etc. That type of attitude will lead to self destruction in my humble opinion. The market moves the way it moves. You either make money or you don't. Don't get so caught up in each particular trade that your ego is invested as well as your dollars.
The bottom line in this game is NOT to be RIGHT but to MAKE MONEY.
Friday, March 14, 2008
Posted by Lord Tedders at 8:14 AM