Thursday, July 23, 2009

07/23 Day Trading FOREX

Took 1 single trade Today, I spent most of the day being extra cautious about any trade set-up. My goal was to only take a trade with a clear path to the Fibonacci target, and this only showed up at the end of my trading session, when I was about to close the charts I spotted the set-up on the GBP/USD

Capital Allocation: A+ Was able to quickly calculate and allocate the propper number of lots
Keeping Limits: A+
Stop Management: A+
Trade Set-up: A+ Specially great Today, as I avoided at least two trades that would have failed on me.

1) Long GBP/USD: Took the trade as I was about to exit the session, noticed that we had a clear path to the target and didn't hesitate to enter the position. +3.71%

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