STICK TO EXIT/PROFIT TARGETS AS SOON AS IT HITS TARGET CLOSE THE TRADE NO HESITATION

STICK TO THE PLAN LET THE TRADE RUN


EMOTIONAL CAPITAL TAKES MONTHS TO BUILD AND SECONDS TO LOSE PRESERVATION IS PARAMOUNT




THERE WILL BE NO SETUP THAT TELLS YOU EXACTLY WHAT TO DO - USE YOUR INTUITION




Wednesday, 9 May 2012

9th May Set-ups



Set-ups 1,2,3,5 and 6 would have worked to hit target without taking a loss the only set up that did not work was number 4 which was the setup I took.  The reason being is I do not have the confidence to hit the trade as it enters the level I'm waiting for further price action.  This shows that by taking these trades the probability will win out over time I just need to learn to hit the trade when I see price action form correctly around the level.  This is at least two bars showing a clear rejection of that level.

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