Thursday, September 1, 2011

Wrong When Right

Revenge trading is  insidious.  One thinks he is being wise or nimble...but it is neither as it can damage an account quickly.  Here is the result of my live short Euro trade off the 1 hour T.F.  I initially bailed for minus 0.4 R, only to DOUBLE my position after seeing some bearish action.....or perhaps not bullish action...on the 15 minute timeframe.  I had a much tighter stop.  I then set my buy cover at the R1 target vice R2.  A winner I consider a really poor trade. 



A proper reentry.

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