I seemed to have a lot better focus this morning, and a very good idea of what the market was likely to do. If you look on the hourly chart you'll see where I've drawn in a long standing support area 1.3229. Based on the hourly it seemed very likely that we would test this support. On the 89 tick chart you can see where I've drawn in what I consider the current range. Once we broke to the downside I was able to catch a few retracements before we tested support, as well as the eventual reversal (it became clear after 5:30 a.m. that reaction to various news items was half-hearted).
Overall a solid gain of +37 pips on 25k.
LT
Posts
The Psychology of Handling Large Drawdowns
6 days ago
4 comments:
It's ok, LT, you'll make your 3700 pips back. ;-)
Jules,
I've had some bad trades in the past but even my first Corn trade didn't have a drawdown of 3700 pips lol!
LT
You traded corn??? I can't even make out those charts. You're brave! LOL!
Jules,
No I think it was closer to - not so bright :P
I was actually doing seasonal trading and building positions over a period of months.
Very different from the way I trade today lol.
LT
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